Jeff Bezos' Fortune Jumps $10 Billion In A Day As OpenAI Deal Boosts Amazon Stock
Jeff Bezos who holds 8% equity in Amazon and saw his net worth rise $9.8 billion, more than 3.8%, as of Monday afternoon.
Amazon founder and executive chairman Jeff Bezos saw his personal net worth grow by an estimated $10 billion in a single day after a major cloud computing deal between Amazon Web Services (AWS) and artificial intelligence powerhouse OpenAI sent Amazon’s stock (AMZN) climbing.
The stock rose approximately 4% to close at a record high on Monday, following the announcement of a massive $38 billion seven-year strategic partnership. The agreement names AWS as a key cloud provider for OpenAI, developer of the popular ChatGPT service. This grants the AI company access to hundreds of thousands of Nvidia’s specialised Graphics Processing Units (GPUs) for training and running its large AI models.
According to Forbes, Bezos, who holds 8% equity in Amazon, saw his net worth rise $9.8 billion, more than 3.8%, as of Monday afternoon. His net worth is worth an estimated $264.1 billion as of around 3:20 p.m. EST on Monday.
About AWS and OpenAI Deal
Amazon Web Services (AWS) and OpenAI on Monday announced a multi-year, strategic partnership that provides AWS’s world-class infrastructure to run and scale OpenAI’s core artificial intelligence (AI) workloads starting immediately.
According to Amazon, AWS has unusual experience running large-scale AI infrastructure securely, reliably, and at scale–with clusters topping 500K chips. AWS's leadership in cloud infrastructure combined with OpenAI's pioneering advancements in generative AI will help millions of users continue to get value from ChatGPT.
"The growing demand for AI technology has led to a surge in demand for powerful computing. To meet this need, OpenAI is partnering with AWS to leverage its high-performance, scalable, and secure infrastructure. OpenAI will start using AWS's computing resources right away, with full capacity expected by the end of 2026 and potential for further expansion," said the company in a statement.
