Catenaa, Monday, November 03, 2025- Amazon stock soared to an all-time high on Monday after the company announced a $38 billion deal with OpenAI to access Nvidia AI chips.
Under the partnership, OpenAI will run its AI workloads on Nvidia’s GPUs (graphics processing units) housed within Amazon’s AI servers.
The companies said OpenAI would immediately start using AI infrastructure provided by Amazon’s cloud segment, Amazon Web Services, scaling to the full computing capacity outlined in the deal before the end of 2026.
Amazon stock rose by 4.5% by 11 am EDT, recording an all-time high of $256 per share. The stock has risen by over 16% since October 3rd.
The move is just the latest in OpenAI’s string of deals with cloud providers and chipmakers. OpenAI also has a $300 billion deal with Oracle and agreements with AI data center provider CoreWeave worth more than $22 billion.
The AI developer recently announced agreements with Broadcom, AMD, and Nvidia.
The circular AI deals have added to fears of a market bubble and raised concerns that AI demand could be overstated.
OpenAI’s costs are set to surpass $1 trillion by the end of the decade, while its revenue remains far below that value, raising questions about whether the company can pay for its latest AI infrastructure commitments.
Amazon last week reported third-quarter earnings that surpassed analyst expectations.
Additionally, AWS said last Wednesday that it has completed a massive AI data center project and was set to provide OpenAI’s rival Anthropic with one million of its custom AI chips by the end of 2025.
