OpenAI and Amazon Join Forces in a Record $38 Billion Deal

Independence

From a technological and investment standpoint, Microsoft was, until recently, practically synonymous with OpenAI, having invested a total of $13 billion in the startup, gaining the position of exclusive cloud partner[1]. However, the latest agreement between OpenAI and Amazon changes this dynamic. In January, Microsoft announced that its exclusivity had ended, retaining only a right of first refusal for new requirements. Based on this, OpenAI now has complete freedom to build its infrastructure – a move that comes at the right time, as computing demands are growing exponentially. The deal with AWS is therefore strategically essential. OpenAI CEO Sam Altman also stated that to cover all capital expenditures, the company will likely go public in the near future[2].

AWS Capacities

From Amazon’s perspective, this represents an unquestionable milestone. The AWS division, led by Matt Garman, is further consolidating its dominance in the cloud services market through this partnership. OpenAI will immediately begin using AWS infrastructure across U.S. data centers, with the next phase involving the construction of specialized facilities equipped with hundreds of thousands of Nvidia graphics processors – specifically the Blackwell models.

The focus on AWS is far from coincidental. The company already has extensive AI deployments. Its $11 billion data center in Indiana, built for Anthropic, is one of the largest projects of its kind[3]. However, OpenAI now represents an even more ambitious test – to ensure reliable performance for training and operating models that serve hundreds of millions of users worldwide every day.

Stock Market Reaction

As is often the case in the markets, such a key deal quickly influenced Amazon’s stock price. The immediate reaction was a 4% increase, which contributed to a two-day rally, pushing shares up by as much as 14%, marking the company’s best stock market performance since 2022.* Investors view this as proof that Amazon can attract the most prestigious clients and directly compete with Microsoft and Google Cloud. Additionally, AWS grew 20% year over year in the third quarter.[1]

*Past performance is not indicative of future results.

[1] Forward-looking statements are based on assumptions and current expectations, which may be inaccurate or influenced by changes in the economic environment. Such statements are not guarantees of future performance. They involve risks and other uncertainties that are difficult to predict. Actual results may differ materially from those expressed or implied in any forward-looking statements.

[1] https://www.cnbc.com/2024/08/10/rise-of-openai-microsofts-13-billion-artificial-intelligence-bet.html

[2] https://www.cnbc.com/2025/11/03/open-ai-amazon-aws-cloud-deal.html

[3] https://www.cnbc.com/2025/10/29/amazon-opens-11-billion-ai-data-center-project-rainier-in-indiana.html