Amazon inked a $38 billion cloud deal with OpenAI, which sent the stock to the top of the Dow Jones on Monday.

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.

Wedbush analysts Dan Ives and Scott Devitt raise the price target on Amazon stock from $330 to a Street high of $340

Amazon says the constraint right now is power, not chips; it’s giving plenty of the latter to OpenAI. Then, Amazon solves groceries by getting faster tat delivering everything else.