Amazon stock jumps 5% premarket
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On Monday, Amazon’s announcement of a $38 billion agreement for Amazon Web Services to provide infrastructure for OpenAI’s artificial intelligence workloads sent Amazon stock up about 5% to a new all-time high.
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S&P 500 Gains & Losses Today: Amazon Stock Jumps After OpenAI Deal; Kimberly-Clark Acquires Kenvue
An AI collaboration boosted the company behind the largest U.S. cloud service on Monday, Nov. 3, 2025, while shares of the two companies involved in a consumer goods deal saw major moves.
When it comes to artificial intelligence (AI), perhaps no one commands more attention than Sam Altman, the CEO of ChatGPT maker OpenAI. On Nov. 3, OpenAI announced a headline-grabbing $38 billion partnership with e-commerce and cloud titan Amazon ( AMZN 1.81%).
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Why Amazon (AMZN) Stock Is Up Today
Shares of cloud computing and online retail behemoth Amazon (NASDAQ:AMZN) jumped 4.9% in the afternoon session after the company announced a landmark $38 billion, multi-year cloud services agreement with OpenAI,
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.