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Amazon Stock Climbs as It Bets a Jaw-Dropping $50 Billion on OpenAI's Meteoric $852 Billion Rise [Yahoo! Finance]
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On Wednesday, Amazon stock (AMZN) rose 1% in pre-market trading following the news that it is leading a historic $122 billion funding round for OpenAI . This investment pushes the valuation of the ChatGPT creator to a jaw-dropping $852 billion, clearing the path for what could be the largest IPO in history later this year. End of Quarter Sale - 50% Off TipRanks Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks Amazon Takes the Lead The standout detail of this deal is the scale of Amazon's commitment . The cloud giant is pledging up to $50 billion to OpenAI, starting with an immediate $15 billion investment. For the first time, OpenAI is moving away from being solely tied to Microsoft (MSFT) by adding Amazon's massive cloud and hardware resources to its arsenal. As part of the agreement, OpenAI will begin using Amazon's in-house T
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