How Amazon's massive stake in OpenAI could boost its AI and cloud businesses
CNBC
The deal could ease some of Wall Street's fears about Amazon's monster $200 billion capex spending, and accelerate its development of AI tools.
Amazon on Friday unveiled a strategic partnership with OpenAI that includes an investment of up to $50 billion, the latest sign of deepening ties between the tech giant and the maker of ChatGPT.
As part of the deal, OpenAI will use more Amazon Web Services infrastructure, including a commitment to deploy 2 gigawatts of the company's Trainium artificial intelligence chips for its new enterprise platform, called Frontier.
"Today, we now have the two largest AI labs who are both significantly betting on Trainium," Amazon CEO Andy Jassy told CNBC's Andrew Ross Sorkin on Friday.
Chinese AI stocks surged on Wednesday following upbeat remarks from Nvidia's chief executive Jensen Huang on the promise of AI agents and OpenClaw.
Nvidia CEO Jensen Huang pointed to a fast-rising project called OpenClaw as a major step forward in how people interact with AI.
OpenAI has hired the former DocuSign CFO Cynthia Gaylor to run investor relations as the company gears up for a potential IPO.
Microsoft is doubling down on its superintelligence group to build models, while consolidating engineering efforts for its Copilot assistants.
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A decline in oil on Monday triggered stock buying, particularly in AI stocks like Nvidia, which wowed investors at its developers conference.
AVs are important to Nvidia as self-driving cars remain one of the primary areas where the company can show growth outside of artificial intelligence.
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Carbon credit purchases by Amazon, Google, Meta and Microsoft skyrocketed in 2023, based on tracked purchases.
JD.com is pushing same-day delivery and international brands as a way to help it compete with Amazon.
Travis Kalanick is renaming City Storage Systems to Atoms, while focusing on robotics for mining and transportation.
With xAI now in the hands of SpaceX, Elon Musk says he's rebuilding the artificial intelligence company following high-level departures.
For JPMorgan Chase, winning the niche of startup banking from rivals is about more than just gaining deposits: It's a bet to future-proof the largest U.S. bank.