OpenAI turns to Amazon in $38 billion cloud services deal
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S&P 500 Gains & Losses Today: Amazon Stock Jumps After OpenAI Deal; Kimberly-Clark Acquires Kenvue
An AI collaboration boosted the company behind the largest U.S. cloud service on Monday, Nov. 3, 2025, while shares of the two companies involved in a consumer goods deal saw major moves.
Amazon inked a $38 billion cloud deal with OpenAI, which sent the stock to the top of the Dow Jones on Monday.
Wedbush analysts Dan Ives and Scott Devitt raise the price target on Amazon stock from $330 to a Street high of $340
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.
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Why Amazon (AMZN) Stock Is Up Today
Shares of cloud computing and online retail behemoth Amazon (NASDAQ:AMZN) jumped 4.9% in the afternoon session after the company announced a landmark $38 billion, multi-year cloud services agreement 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.
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