Amazon Just Landed a $38 Billion OpenAI Deal
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17hon MSNOpinion
Why Did Amazon Stock Jump 5% Today?
Shares of Amazon ( AMZN +3.99%) jumped on Monday, finishing the day up 5%. The move higher came as the S&P 500 gained 0.1% and the Nasdaq Composite rose 0.4%. The tech behemoth inked a major deal to provide OpenAI with $38 billion worth of artificial intelligence (AI) computing capacity.
A massive internet outage stemming from errors in Amazon cloud services on Monday morning demonstrated just how many people rely on the corporate behemoth's computational infrastructure everyday — and laid bare the vulnerabilities of an increasingly concentrated system.
The cloud-computing division of the internet giant is used by thousands of internet customers, many of whom reported disruptions on Monday.
13don MSN
Here's what experts say the Amazon Web Services outage reveals about the fragility of the cloud
Experts say the incident revealed what can happen when a such a broad spectrum of companies rely on singular cloud provider.
Amazon is scheduled to report third-quarter earnings after markets close on Thursday, and all eyes are likely to be on the e-commerce giant’s cloud business.