Amazon gains after source points to talks for $10 bln OpenAI investment
Shares of Amazon.com AMZN.O rise 1.4% to $225.68 premarket after reports co could invest in ChatGPT-maker OpenAI
Co may invest about $10 billion in OpenAI, in a potential deal could value OpenAI at more than $500 bln, a source familiar with the matter said
However, talks are "very fluid", the source said, hours after The Information reported it initially
The move underscores AI sector's endless demand for computing power; OpenAI had signed $38 bln cloud deal with Amazon last month
OpenAI also preparing IPO that could value firm at up to $1 trillion; Microsoft MSFT.O holds 27% stake and exclusive rights to sell OpenAI models
Firms such as Nvidia NVDA.O and Oracle ORCL.O have also signed deals with OpenAI this year, that have helped boost stock performance
AMZN stock up just 1.4% YTD, as of last close
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