Not long after the AI boom began, George Soros voiced concerns about the implications the game-changing tech would have. The billionaire investor – known for his historic 1992 bet against the British pound, which earned him $1 billion and the moniker The Man Who Broke the Bank of England – cautioned that “nobody can predict where [AI] will take us.” He argued that while the future remains uncertain, “we can be sure of one thing: A.I. helps closed societies and poses a mortal threat to open societies.” With that in mind, Soros said he is “instinctively opposed to A.I.,” even if he’s unsure “how it can be stopped.”
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More than two years have passed since Soros made those remarks, and it is tempting to think the fabled investor has now adopted an “if you can’t beat ’em, join ’em” stance. Although he no longer actively runs Soros Fund Management – a fund that boasts $28 billion in assets under management – he remains chairman, and the fund has been making big bets on two Magnificent Seven stocks heavily involved with AI: Amazon (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOGL).
According to the TipRanks database, Soros is far from alone in seeing opportunity here; both these names are rated as Strong Buys by the analyst consensus. Let’s see why.
Amazon
Amazon needs no introduction, really. The company Jeff Bezos started as an online bookseller has turned into a global powerhouse spanning e-commerce, cloud computing, logistics, entertainment, AI, and more. What began as a pursuit of selling every book in print is now an enterprise that shapes how people shop, stream content, and build digital infrastructure.
Amazon wasn’t always on top of the world, however. Famously, the stock lost over 90% of its value when the dotcom bubble burst, only to stage a remarkable recovery and become the juggernaut it is today. These days, Amazon is also recognized as one of the major players in AI, an area some market watchers believe is now in bubble territory too.
The company uses AI across its logistics network to forecast demand, route packages, and manage inventory, and it powers Alexa’s voice recognition and recommendation systems across retail and Prime Video. In the cloud, Amazon Web Services sits at the center of Amazon’s AI approach, offering a broad range of AI and machine-learning tools that developers and companies can build on. This is one of the company’s fastest-growing segments, with sales increasing 20% year-over-year to $33 billion in 3Q25.
While Soros has warned of the dangers of AI, his fund has not been shy of picking up shares of the sector’s leaders. In Q3, Soros Fund Management bought 1,843,329 AMZN shares, bringing its total stake to 2,226,187, holdings currently worth $504 million.
Needham analyst Laura Martin is also a fan and lays out how AI, among other growth vectors, is shaping the narrative at the tech giant.
“AMZN is using GenAI to introduce new products to drive rev upside from consumers and enterprise, we believe,” Martin explained. “Also, AMZN has several businesses that give it best in class eCommerce data on consumers that feed its LLMs, and its unique data sets can potentially generate incremental revenue from other LLMs, we believe. Also, AMZN has a long record of managing large construction projects efficiently, which should give investors comfort that AMZN should maximize ROICs on its physical infrastructure investments, and not waste capital. Finally, with advertising, Cloud and LLM revs, AMZN is pivoting its business model toward enterprise, which has lower regulatory risks, we believe.”
Quantifying her stance, Martin rates AMZN shares a Buy while her $265 price target points toward 12-month returns of 17%. (To watch Martin’s track record, click here)
Overall, AMZN gets a Strong Buy consensus rating on the Street, based on a mix of 40 Buys and 3 Holds. Going by the $294.71 average price target, a year from now, shares will be changing hands for a 30% premium. (See AMZN stock forecast)
Alphabet
From one tech giant to another. Alphabet is Google’s parent company and oversees a diverse range of businesses, including search and advertising, as well as experimental work in areas such as self-driving cars and health technology. Most of its revenue still comes from the core Search business, while YouTube, its ad network, Google Cloud Platform (GCP), and the company’s more speculative “Other Bets” also contribute.
Alphabet is a pioneer in AI, which has steadily become the focus of nearly everything it does. Google now integrates AI into its search, maps, ads, Android, and productivity tools, and Google Cloud has heavily leveraged AI, offering companies access to its models and infrastructure as it seeks to catch up with AWS and Azure.
Interestingly, however, at the onset of the AI boom and the rise of OpenAI’s ChatGPT, Google was considered under threat from the new paradigm. That is a narrative that has been put to bed in recent months, with the company now seen as extremely well-positioned to be one of AI’s main beneficiaries. Recently, Google released Gemini 3, its most advanced AI model yet, featuring improved reasoning, multimodal understanding, and agentic tools to boost productivity in tasks ranging from analytics to creative work. The model is being deployed across the Gemini app, AI Mode in Search, and its developer platforms. Benchmarks show that Gemini 3 Pro outperforms Gemini 2.5 Pro in visual reasoning, coding, and academic problem-solving, and for the first time, Google has integrated such a model directly into its search engine at launch.
Meanwhile, the Soros fund made a massive increase to its GOOGL holdings in Q3, with the purchase of 631,397 shares. The fund now holds a total of 658,367 shares, currently worth $210 million.
And the road ahead looks bright and sunny, according to Susquehanna analyst Shyam Patil, who writes: “Looking ahead, the company plans to ramp up investments to further lean into the AI opportunity as it remains optimistic about the long-term growth potential. We remain Positive for the long term due to: 1) the secular ad growth story, 2) the Cloud ramp, 3) emergence of AI, and 4) a more shareholder-friendly capital allocation approach.”
Bottom line, Patil rates GOOGL shares as Positive (i.e., Buy), while the analyst’s $350 price target points toward 12-month returns of 10%. (To watch Patil’s track record, click here)
Elsewhere on the Street, the stock claims an additional 30 Buys and 7 Holds, for a Strong Buy consensus rating. However, the share gains keep coming in thick and fast, and the $312 average price target now suggests shares will decline by 2% from current levels. It will be interesting to see whether the analysts upgrade their price targets as they strive to match GOOGL’s continuous record-breaking highs. (See GOOGL stock forecast)
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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