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Nov 3, 2025 8:00 PM

Amazon Strikes $38B OpenAI Deal, Wedbush Hikes Target To Street-High

Amazon.com, Inc. (NASDAQ:AMZN) shares climbed Monday after the company announced a $38 billion multi-year partnership with OpenAI for AWS to provide computing infrastructure to support OpenAI's artificial intelligence workloads. 

Wedbush analysts Dan Ives and Scott Devitt raised the price target on Amazon stock from $330 to a Street high of $340 based on the new partnership. Here's a look at what they highlighted in the note. 

See the real-time price action for AMZN here. 

The analysts noted that the collaboration will see OpenAI initially using AWS's existing data centers, with Amazon planning to expand dedicated infrastructure to meet future needs. 

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