Amazon announces $50bn investment in AI partnership with OpenAI [Yahoo! Finance]
Amazon.com, Inc. (AMZN)
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Source: Yahoo! Finance
US multinational technology company Amazon and artificial intelligence research firm OpenAI - developer of the ChatGPT chatbot - announced a strategic partnership on Friday. The new collaboration aims to accelerate AI innovation for enterprises, startups, and end consumers around the world with the development of a Stateful Runtime Environment powered by OpenAI's models, the companies said. Amazon will invest $50 billion in OpenAI, starting with an initial $15 billion investment and followed by another $35 billion in the coming months when certain conditions are met, according to the terms of the deal. Amazon Web Services (AWS) will serve as the exclusive third-party cloud distribution provider for OpenAI Frontier, the companies said. Together, both companies will develop customized models available to Amazon developers to power Amazon's customer-facing applications, they said. Amazon teams will be able to tailor OpenAI models for use across AI products and agents that serve
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AMZN
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AMZN
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