On the back of strong confidence from hedge funds and Wall Street, Amazon.com, Inc. (NASDAQ:AMZN) is one of the best AI infrastructure stocks, with upside potential of 16.4%.
Amazon.com, Inc. (NASDAQ:AMZN)’s cloud business has already served as the backbone of the AI buildout
Yet a ten-year, $100 billion commitment from Anthropic indicates that growth is only set to accelerate from here. On May 29, 2026, Truist raised its price target on Amazon.com, Inc. (NASDAQ:AMZN) to $320 from $310, keeping a “Buy” rating. The firm lifted its AWS revenue estimates for fiscal 2027 and beyond to better reflect the potential flow-through from the company’s recently announced $100 billion partnerships with both Anthropic and OpenAI and the corresponding recognition in revenues from backlog.
The analyst contended that consensus is underestimating both fiscal 2027 capex and revenue growth. The Anthropic partnership is a major driver of that outlook. Anthropic is committed to spending more than $100 billion over the next ten years on AWS technologies, encompassing current and future generations of Amazon.com, Inc. (NASDAQ:AMZN)’s Trainium custom silicon and tens of millions of Graviton CPU cores.