Artificial intelligence (AI) stocks have been driving stock market performance in recent years, and investors have cheered growth in the space. But to keep this growth story going, tech giants have to invest heavily, and that’s exactly what they’ve been doing over the past several quarters. This investment, totaling hundreds of billions of dollars, has gone into the infrastructure build-out, with cloud players and other “hyperscalers” building data centers and furnishing them with equipment.
Amazon (AMZN -1.41%), as the owner of Amazon Web Services (AWS), is one of these players. This week, the company reported earnings that fell short of estimates, and negative free cash flow was also deeper than expected. On top of this, Amazon says it aims to “spend meaningfully more” next year.
The news sent the stock lower in the following trading session, and this is after Amazon’s 14% drop from a high back in August. Now, here’s why this player is a once-in-a-decade buy hiding in plain…
