Amazon's potential for global growth is "enormous," billionaire investor Mark Cuban told CNBC Thursday, shortly after increasing his holdings in the e-commerce and cloud computing company.
Cuban said he believes FANG stocks – Facebook, Amazon, Netflix and Google parent Alphabet– continue to be undervalued but the opportunity for the online retailer is especially large.
"It's the ultimate [artificial intelligence] company, it's the ultimate start-up," he said, arguing that the company has mastered the art of pre-emptive selling.
"When Amazon talks about opening up grocery stores, it's not because they want to sell groceries in stores. It's the same with bookstores. It's because they want to know what you need, when you need it, before you know you need it so they can deliver it right to your door in anticipation," he said.
"They become prescriptive, and the opportunity there, globally, is enormous."
Cuban is the owner of the NBA's Dallas Mavericks, Landmark Theatres, Magnolia Pictures, and chairman of cable network AXS. He also is a panelist on "Shark Tank."
Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank."