Very pleased to be working with Amazon to bring a lot more NVIDIA chips online for OpenAI to keep scaling! ...

Core Insights - OpenAI has secured a significant 7-year, $38 billion deal with Amazon Web Services (AWS) to enhance its cloud computing capabilities for advanced AI tools like ChatGPT and Sora [1][4][10] - This partnership marks a shift from OpenAI's previous exclusive reliance on Microsoft's Azure cloud, allowing it to access a broader compute ecosystem [4][16] - The deal is expected to enable OpenAI to scale rapidly, leveraging AWS's infrastructure to meet increasing AI demand [2][8] Company Developments - OpenAI will utilize Amazon's UltraServer clusters, which include Nvidia GB200 and GB300 processors, to train and run its AI models [8] - The agreement follows OpenAI's recent restructuring, which provided it with more freedom in financing and operations, including the ability to seek cloud services from other providers [5][16] - OpenAI has committed nearly $600 billion in new cloud contracts across multiple providers, addressing severe computing shortages that have impacted its operations [17] Industry Context - AWS aims to regain competitive ground against Microsoft and Google, which have seen stronger revenue growth in their cloud divisions due to rising AI demand [10][15] - Amazon reported a 20% quarterly growth in cloud revenue, its fastest since 2022, indicating a strong push to enhance its cloud offerings [14] - The partnership with OpenAI is part of Amazon's broader strategy to attract high-profile AI customers and expand its market share in the cloud computing sector [10][15]

Joining me now is Olria Hoffman Berte. She is chief investment officer America's and global head of equities at UBS global wealth management. Thank you so much for joining us.I mean there's so much to talk about in the markets but because we have yet another deal in the AI open AI space this time with AWS Amazon I'd love to talk about how that sort of underpins the idea of technology powering the economy. Do you think that this can continue at this rate. Well, I think it's a great observation.I think first ...

Let's discuss all of it with Lo Tony. He's founding managing partner at Plexo Cap Capital. He's also a CNBC contributor.Lo, it's so great to have you here. I mean, Matt went through everything that OpenAI is doing. Obviously, now they are partnering up here with AWS for compute as Microsoft's right of first refusal expired, but it doesn't seem like Microsoft is going to be too poor off right now.They've obviously been making some of your own deals. Can you sort of size up where we are in this space right no ...

Well, come from consumer deals to tech deals. Amazon shares hitting a record high on news of a $ 38 billion compute deal with OpenAI. Mackenzie Sagalis has more in today's tech jack to the woman that never sleeps, smack.Hey, Courtney. So, OpenAI is teaming up with Amazon for the first time ever on compute in a deal that not only makes AWS the newest hyperscaler to power chatbt, but also consumes nearly all of the capital from the financing round that had just closed. The agreement gives OpenAI access to hun ...

Group 1: OpenAI and Nvidia Partnership - OpenAI has signed a seven-year deal with Amazon Web Services (AWS) valued at $38 billion to access hundreds of thousands of Nvidia GPUs, with potential expansion to tens of millions of CPUs for scaling workloads [6][7] - The partnership is described by OpenAI as a "declaration of adulthood," marking a shift from its previous exclusive relationship with Microsoft [7] - The deal aims to enhance the performance and reliability of AI infrastructure, benefiting millions of ChatGPT users [7] Group 2: Nvidia Valuation and Market Impact - Loop Capital has set a new price target of $350 for Nvidia, up from $250, which would imply a market capitalization of $8.5 trillion [8] - Analyst Ananda Baruah anticipates a surge in GPU shipments for Nvidia over the next 12 to 15 months, supported by its GB200 NVL72 racks [8] Group 3: Kimberly-Clark Acquires Kenvue - Kimberly-Clark is acquiring Kenvue in a cash-and-stock deal valued at $48.7 billion, with Kenvue's shares rising nearly 20% following the announcement [9][10] - The acquisition price of $21.01 per share represents a 46% premium over Kenvue's closing price prior to the announcement, although Kimberly-Clark's stock has since declined by over 10% [11] - Kimberly-Clark CEO Mike Hsu will lead the combined company as chairman and CEO [11] Group 4: Other Notable Market Movements - The UK Competition and Markets Authority has referred the merger between Getty Images and Shutterstock for a Phase 2 investigation, causing Shutterstock's shares to drop by more than 10% [12] - MongoDB's stock is rallying after announcing a new CEO and positive Q3 guidance [12] - Data center company IREN has secured a $9.7 billion contract with Microsoft for AI cloud services, leading to a significant stock rally [13] - Beyond Meat is experiencing a decline due to a delay in releasing Q3 results related to asset impairment [14] - The technology sector has seen a notable uptick in short covering, with Info Tech emerging as the most net bought sector for the first time in three weeks [15]

Core Points - The public dispute between Elon Musk and Sam Altman has resurfaced, focusing on Altman's canceled reservation for the Tesla Roadster, which has faced significant delays [1][2] - Altman expressed his frustration over the 7.5-year wait for the Roadster, sharing screenshots of his refund request [2] - Musk responded by highlighting that Altman received a refund within 24 hours, suggesting that Altman omitted important details in his narrative [2] - The Tesla Roadster, first introduced in 2017, is still in "design development" according to Tesla's latest earnings report, despite being marketed as "the fastest production car ever made" [3] - Musk has previously claimed that the upcoming Roadster will feature advanced technology, surpassing that of fictional James Bond cars [3] - The ongoing tensions between Musk and Altman are part of a broader history of disputes, including Musk's accusations that OpenAI has shifted towards a profit-driven model under Altman's leadership [3][4] - Musk has also taken legal action against OpenAI, alleging it has strayed from its nonprofit origins, while OpenAI has indicated that Musk once proposed a merger with Tesla [4]

Core Insights - AWS and OpenAI have entered into a $38 billion agreement for OpenAI to utilize AWS infrastructure for its AI workloads, effective immediately [1][2] - OpenAI will leverage AWS's extensive computing resources, including hundreds of thousands of Nvidia GPUs and the potential to scale to tens of millions of CPUs, with plans to fully deploy the capacity by the end of 2026 [2][3] Company Collaboration - The partnership aims to enhance the compute ecosystem necessary for scaling frontier AI, as stated by OpenAI's CEO Sam Altman, emphasizing the importance of reliable compute for advanced AI development [3] - AWS CEO Matt Garman highlighted that AWS infrastructure will be crucial for supporting OpenAI's ambitious AI projects, showcasing AWS's unique position in providing optimized compute resources [3] Previous Collaborations - Earlier in August, OpenAI's foundation models became available on Amazon Bedrock, marking the first instance of OpenAI's models being accessible on a cloud platform outside of Microsoft Azure [4][5] - This collaboration has allowed OpenAI to reach millions of customers on AWS, rapidly becoming a popular model provider for various applications, including coding and scientific analysis [5] Financial and Structural Changes - OpenAI recently restructured its for-profit arm into a public benefit corporation and announced plans to purchase an additional $250 billion worth of Microsoft Azure services, while also indicating that Microsoft will no longer have a right of first refusal as OpenAI's compute partner [5][6] - Microsoft holds a 27% stake in OpenAI, valued at approximately $135 billion [6]

Shares of Amazon jumping today to a new record high after announcing a $ 38 billion compute deal with OpenAI. Its first partnership actually with the AI company. Mackenzie Sagalas has more in today's tech check.These these headlines are just so regular that they don't pack as much of a punch. And but this one Sarah could be read as OpenAI flexing on Microsoft after finally freeing itself from its biggest shareholders grip on cloud deals. CEO Sam Alman announcing a major partnership with Amazon this morning. ...

Sam Altman is getting fed up with the haters, and he wishes OpenAI were public so they could put money behind their critiques. The CEO quickly became defensive when BG2 podcast host and Altimeter Capital founder Brad Gerstner asked about OpenAI’s reported $13 billion in revenue—a respectable figure about equal to that of Dick’s Sporting Goods, but which pales in comparison to the $1.4 trillion OpenAI has committed to investing in computing infrastructure. “First of all, we’re doing well more revenue than ...