Amazon stock jumps 5% premarket after OpenAI announces $38 billion AWS partnership

10 hours ago 3

By Brent D. Griffiths

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OpenAI CEO Sam Altman

OpenAI CEO Sam Altman MANDEL NGAN/AFP via Getty Images

OpenAI announced a multi-year $38 billion partnership with Amazon on Monday, its first major cloud computing deal since striking a new agreement with Microsoft that gave it more flexibility.

OpenAI will use Amazon's AWS "to run and scale OpenAI's core artificial intelligence (AI) workloads starting immediately." The announcement also says the partnership "will have continued growth over the next seven years."

Amazon shares were up more than 5% in pre-market trading on the news.

This is developing.

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