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%).

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.

Jeff Bezos who holds 8% equity in Amazon and saw his net worth rise $9.8 billion, more than 3.8%, as of Monday afternoon.

OpenAI and Amazon.com have reached a $38 billion agreement for Amazon Web Services to provide infrastructure for the ChatGPT maker’s artificial-intelligence workloads. The partnership will begin immediately and covers the next seven years, Amazon announced Monday.

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 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.