(RTTNews) - Amazon.com Inc. (AMZN) is in discussions to invest up to $50 billion in OpenAI, according to reports citing people familiar with the matter. The talks include expanding an agreement under which Amazon would provide computing power to the artificial intelligence startup. The potential deal could also involve Amazon using OpenAI's models, which power the ChatGPT chatbot, across its products and platforms, while employees may gain access to the technology for their work.
Reports also said OpenAI is seeking as much as $100 billion in new capital from investors to support its growth ambitions. The company is also preparing for an initial public offering in the fourth quarter of 2026, with executives privately expressing concern that rival Anthropic could move ahead with its own public listing first.
Amazon.com closed at $241.73, down $1.28 or 0.53%. In overnight trading at 8:40:23 PM EST, the stock slipped further to $239.05, reflecting a decline of $2.68 or 1.11%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
