Chris Camillo made the most bullish case on $AMZN. Everyone worried when Amazon raised their capex to $200 billion Camillo believes they might make that $200 billion back on their Anthropic investment alone when Anthropic IPOs. What Amazon has done in the last 18 months is remarkable in scope. They didn't try to win the foundation model race against OpenAI and Google directly. They went a completely different direction, positioning themselves as the infrastructure underneath everything that is AI. Trainium chips, cloud buildout, advertising integration and equity stakes in two of the three most important AI companies on the planet. First Anthropic. Now $50 billion into OpenAI on top of that. And that OpenAI investment isn't just a financial bet. It ties OpenAI into Amazon's cloud ecosystem, probably permanently. Two of the big three AI labs now run on Amazon infrastructure. Google is the only one that doesn't. The market has spent two years debating who builds the best model. Amazon decided to own the plumbing those models run on and bought equity in the winners while they were at it.