OpenAI Inks 1st Multi-Billion Dollar Deal With Amazon
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Over the past month a slew of tech stocks have experienced massive rallies after announcing deals with OpenAI.
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OpenAI's $38 billion Amazon AWS deal gives it access to 'hundreds of thousands' of Nvidia GPUs
The AWS partnership is OpenAI's first major cloud computing deal since it struck a new agreement with Microsoft, which gave it more flexibility.
Amazon.com will supply OpenAI with cloud computing services under a multi-year $38 billion deal, giving the ChatGPT maker access to hundreds of thousands of Nvidia graphics processors to train and run its artificial intelligence models.
Amazon Web Services (AWS) and OpenAI ink new $38 billion deal to host OpenAI's new NVIDIA GB200 and GB300 AI servers to be deployed in 2026.
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Stock Market Today: Dow Dips But Amazon Surges On OpenAI Move; Kimberly-Clark Dives On $49 Billion Deal (Live Coverage)
Ahead of the opening bell, the Dow shed early losses and edged higher, with Nvidia and Cisco Systems CSCO doing most of the lifting. S&P 500 futures gained 0.3%. The Nasdaq 100 futures advanced 0.6% in premarket trading.
Asian stocks rose on Monday as investors weighed last week's megacap earnings showing significant spending on artificial intelligence, while the dollar held near a three-month high after hawkish comments from Federal Reserve policymakers.