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Amazon Dumps AMD Stock, Doubles Down On Rivian — Betting Wheels Will Beat Wires

Benzinga·11/05/2025 20:27:52
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While investors are chasing Advanced Micro Devices Inc (NASDAQ:AMD) and Rivian Automotive Inc (NASDAQ:RIVN) on today's trending stock tickers list, Amazon.com Inc's (NASDAQ:AMZN) portfolio shows a clear favorite — and it's not the one leading the AI rally. In its latest third quarter 13F filing, Amazon revealed it sold out of both AMD and IonQ Inc (NYSE:IONQ) — while keeping a massive 94% of its $2.46 billion equity portfolio parked in RIVN stock.

  • Track RIVN stock here

Amazon's EV Obsession

Amazon's third quarter 13F filing shows 158.36 million shares of Rivian, worth $2.32 billion, making it not just its largest public equity holding but almost its entire portfolio. The e-commerce giant's average buy price? $79.29 — meaning it's still down over 80% on paper.

Yet the unwavering position signals conviction that Rivian is key to its long-term logistics and decarbonization strategy.

Amazon's electric delivery fleet already features thousands of Rivian vans, and the two companies' partnership remains one of the strongest EV-commercial ties in the market. While retail investors may see an underperforming stock, Amazon seems to see infrastructure — a long-duration bet that EV scale will eventually pay off in cost and carbon efficiency.

Read Also: Chip Stocks Just Flashed The Same Signal That Flagged A 30% Crash Last Year

The Great AI Exit

The real surprise is what's missing. Amazon completely exited AMD — one of the hottest AI chip names of the year — along with quantum computing stock IonQ.

With AMD up over 120% year-to-date and IonQ up 64%, Amazon's timing looks, at least short-term, like a whiff. But it could also mark a strategic reallocation — out of speculative tech and into supply-chain hardware it can control.

Investor Takeaway

Amazon may have built its empire on the cloud, but its latest filings show it's doubling down on the road. As AI chips dominate headlines, Jeff Bezos' creation seems to be making a quieter wager — that EVs, not GPUs, will carry the next leg of Amazon's growth story.

For now, Wall Street's chasing semis, but Amazon's still betting on wheels.

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