CNBC Daily Open: Outside AI, the market isn't looking that hot

Core Insights - Amazon has signed a significant $38 billion deal with OpenAI, providing access to its Amazon Web Services infrastructure, marking a major partnership in the tech industry [1] - OpenAI's shift to Amazon indicates a diversification from its previous reliance on Microsoft for cloud services, potentially signaling its readiness for an initial public offering [2] - Following the announcement, Amazon's stock surged to a record high, reflecting positive investor sentiment towards Big Tech, while the broader market showed mixed results [3] Company Developments - The $38 billion deal with OpenAI represents a strategic move for Amazon to enhance its cloud service offerings and solidify its position in the AI sector [1] - OpenAI's decision to partner with Amazon suggests a strategic pivot towards operational independence and maturity, moving away from exclusive reliance on Microsoft [2] Market Reactions - Amazon's shares reached a record high after the announcement of the deal, indicating strong investor confidence in the company's future prospects [3] - Despite gains in major indices like the S&P 500 and Nasdaq Composite, over 300 stocks in the broader market declined, highlighting a narrow performance among tech giants [4]