Peter Thiel’s AI Investment Bet Ditches Nvidia for a 200,000% Stock

ByMurtuza Merchant 3 hours ago

Peter Thiel‘s latest 13F filing shows his fund built a $418 million position across artificial intelligence stocks in the third quarter while cutting its entire Nvidia stake.

The filing, reported by Yahoo Finance, reveals Thiel Macro added shares of Amazon, a stock up roughly 200,000% since its 1997 initial public offering, making it the fund’s top holding heading into Q4. The co-founder of Palantir and PayPal, the quarterly disclosure gives investors a rare, dated look at how one of tech’s best-known early backers is positioning around AI infrastructure spending.

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What The Peter Thiel Filing Shows

The 13F covers the three months ended Sept. 30. Thiel Macro sold its roughly $100 million Nvidia position entirely during the quarter, according to a report from Medium’s wlockett newsletter citing the filing.

In its place, the fund added to Amazon, which separate reporting from Globe and Mail pegs at a 560% gain over the past 10 years, well below Amazon’s lifetime IPO return but still a multiple of the S&P 500 over the same stretch.

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Reading The Rotation

Selling Nvidia entirely while adding to Amazon signals a shift from chip exposure toward a company monetizing AI through cloud infrastructure and retail efficiency gains. The filing discloses no stated rationale for the rotation, so the arithmetic is what the disclosure actually supports, a $418 million aggregate AI bet, with Amazon as the largest single line.

For that concentration to make sense at current valuations, cloud revenue tied to AI workloads would need to keep compounding at a rate that justifies the premium over near-term earnings. That is an expectation, not a figure the filing contains.

13F filings report positions with a 45-day lag and do not capture intraquarter trades. Current holdings could already differ materially from the Sept. 30 snapshot, the filing records where the fund stood, not where it stands now.