Amazon’s ( AMZN ) latest partnership signals a major step forward in the race to power artificial intelligence. Amazon’s stock surged to an all-time high after the company announced a massive $38 billion cloud-computing deal with OpenAI, the developer of ChatGPT. The agreement strengthens Amazon Web Services’ position as a leading provider of AI infrastructure and underscores the growing competition in generative AI. Key Points $38 billion, seven-year deal gives OpenAI access to Amazon Web Services’ AI computing capacity. Amazon shares jumped 5% to a record high following the announcement. AWS expands its AI reach , supplying Nvidia ( NVDA ) chips and advanced infrastructure to OpenAI. Amazon Signs $38 Billion Partnership with OpenAI Shares of Amazon rose nearly 5% Monday after the company revealed a multiyear agreement to supply OpenAI with cloud infrastructure through Amazon Web Services (AWS). The seven-year deal, valued at approximately $38 billion,...