Amazon Shares Hit Record High on $38B OpenAI Cloud Deal
Amazon's stock surged nearly 5% to an all-time high of $255 following the announcement of a landmark $38 billion cloud computing partnership with OpenAI. The seven-year agreement grants OpenAI access to Amazon Web Services' vast array of Nvidia chips, significantly boosting its AI infrastructure capacity.
The deal underscores the intensifying race for AI dominance among tech giants. AWS's cloud leadership combined with OpenAI's generative AI capabilities could accelerate innovation in ChatGPT and other AI applications. Market observers note this partnership follows a trend of multibillion-dollar AI infrastructure investments that are driving tech valuations higher.
"This strengthens the compute ecosystem powering the next AI era," said OpenAI CEO Sam Altman. The collaboration comes as major indexes reach record levels, though some investors voice concerns about potential AI sector overvaluation.
