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OpenAI signs billion deal to use Amazon’s cloud platform
Finance
Less than 1 min.Read

OpenAI signs $38 billion deal to use Amazon’s cloud platform

Reuters Videos

<span>STORY: OpenAI, the maker of ChatGPT, has signed a seven-year, $38 billion deal to buy cloud services from Amazon.</span><span>It’s the company’s first big push to power its AI ambitions after a restructuring last week that gave it greater operational and financial freedom.</span><span>The agreement, announced on Monday, will give OpenAI access to hundreds of thousands of Nvidia graphics processors to train and run its artificial intelligence models.</span><span>It underscores the AI industry’s insatiable appetite for computing power as companies race to build systems that can rival or surpass human intelligence.</span><span>OpenAI CEO Sam Altman has said the startup is committed to spending $1.4 trillion to develop 30 gigawatts of computing resources – enough to roughly power 25 million U.S. homes.</span><span>The deal is also a major vote of confidence for Amazon’s cloud unit, Amazon Web Services, which some investors feared had fallen behind rivals Microsoft and Google in the AI race.</span><span>Those fears were somewhat eased by strong growth reported in the September quarter.</span><span>Amazon shares hit an all-time high on Monday, with the company set to add nearly $140 billion to its market value.</span>

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