OpenAI turns to Amazon in $38 billion cloud services deal
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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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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.
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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.