Throughout recent earnings reports, "Magnificent Seven" stocks Amazon, Alphabet ( GOOG ), Microsoft ( MSFT ), and Meta ( META) have signaled that they expect nearly $405 billion in capital expenditures this year — much of which will go toward AI — according to Barron's.

Amazon inked a $38 billion cloud deal with OpenAI, which sent the stock to the top of the Dow Jones on Monday.

Now, that all seems to have resolved itself in Microsoft's favor. On Tuesday, OpenAI said it completed its recapitalization and simplified its corporate structure. The non-profit entity is now called the OpenAI Foundation, which has majority control of the for-profit component, OpenAI Group Public Benefit Corp. (PBC).

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.

OpenAI is preparing for a $1 trillion IPO that could launch in 2026. The ChatGPT maker plans to raise at least $60 billion after completing restructuring.

Both companies were back at it on Tuesday, announcing deals that once again added billions in value to public companies.

PayPal Stock Surges on OpenAI Partnership. Oh Yeah, It Reported Earnings, Declares Dividend, Too. P ayPal Holdings topped Wall Street’s expectations for earnings and revenue in the third quarter and raised its guidance for the year, citing “broad-based profitable growth” across its various lines of business.