On Monday, Amazon’s announcement of a $38 billion agreement for Amazon Web Services to provide infrastructure for OpenAI’s artificial intelligence workloads sent Amazon stock up about 5% to a new all-time high.

Jefferies named Broadcom its Top Pick with a $480 price target as custom AI chip demand surges from OpenAI, Google, and Meta.

Microsoft's total revenue climbed by 18% year over year to $77.7 billion, with adjusted earnings per share (EPS) jumping 23% to $4.13. The results bested analyst estimates of $75.3 billion in revenue and $3.67 in EPS, as compiled by LSEG.

AM ET, the S&P 500 gained 10.83 points, or 0.16%, the Nasdaq Composite gained 119.50 points, or 0.51%, and the Dow Jones Industrial Average fell 186.25 points, or 0.39%.

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

Walmart shares soared this week after the retail giant announced a partnership with OpenAI that will allow ChatGPT users to buy Walmart merchandise directly through the chatbot. Here's what that says about the business of AI.

The ChatGPT maker’s new stake in AMD shows how AI’s power players are merging capital, compute, and control into one ecosystem.

The OpenAI CEO is known for not backing down from conflict. Over the weekend, OpenAI cofounder and Tesla CEO Elon Musk took shots at Altman, alleging he “stole a nonprofit.” Altman responded, “I helped turn the thing you left for dead into what should be the largest nonprofit ever.”

In a press release, Microsoft opened a window on how much it has invested in OpenAI. It also offers a look at the AI developer’s significant losses.