The AWS partnership is OpenAI's first major cloud computing deal since it struck a new agreement with Microsoft, which gave it more flexibility.

OpenAI signed a $38 billion agreement with AWS for cloud computing, a subsidiary of Amazon Group, to obtain additional development capabilities in the field

The boost in Bezos's fortune did not occur in isolation. Just days prior, Amazon reported a staggering $180.2 billion in revenue, alongside earnings per share of $1.95. These figures surpassed Wall Street's expectations and were largely attributed to the robust performance of AWS, which has become a cornerstone of Amazon's business model.

Bank of America analyst Justin Post and his team updated their opinion on AMZN stock following the release of the earnings report. Net sales increased 13% to $180.2 billion in the third quarter year-over-year. Operating income of $17.4 billion, compared with $17.4 billion in Q3 2024.

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.

Amazon AMZN stock surged Friday after the tech behemoth reported stronger-than-expected third-quarter results. A strong performance from Amazon's cloud business helped answer a major concern from investors about the company falling behind in the race to offer AI computing power.