Most major stock indexes climbed on Monday following news that Amazon.com will supply cloud-computing services to OpenAI, and the dollar rose to a three-month high versus the euro due to waning expectations for hefty U.

Now, that all seems to have resolved itself in Microsoft's favor. On Tuesday, OpenAI said it completed its recapitalization and simplified its corporate structure. The non-profit entity is now called the OpenAI Foundation, which has majority control of the for-profit component, OpenAI Group Public Benefit Corp. (PBC).

OpenAI is preparing for a $1 trillion IPO that could launch in 2026. The ChatGPT maker plans to raise at least $60 billion after completing restructuring.

CEO Sam Altman said the ChatGPT maker is doing “well more” than $13B in revenue at present and offered up hints about the not too distant future. Read for more.

Shares of Amazon ( AMZN +3.99%) jumped on Monday, finishing the day up 5%. The move higher came as the S&P 500 gained 0.1% and the Nasdaq Composite rose 0.4%. The tech behemoth inked a major deal to provide OpenAI with $38 billion worth of artificial intelligence (AI) computing capacity.

Major U.S. equities indexes were mixed Monday afternoon, as tech stocks gained but most other sectors declined.

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

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.”

Wall Street is looking to keep up a rally that raged throughout October, when investors piled into growth and AI-linked names, with Big Tech and the "Magnificent Seven" leading market moves. Optimism around easing US-China trade tensions also fueled gains.