
OpenAI has announced a $38 billion deal with Amazon Web Services (AWS), marking its first major contract with the cloud giant and signaling a move away from its previous reliance on Microsoft. Under the agreement, OpenAI will immediately begin using AWS infrastructure, leveraging hundreds of thousands of Nvidia GPUs in the U.S., with expansion plans ahead. The news sent Amazon’s stock up 4% to a record high of $258.60 before it closed at $254.00
This rise on Amazon stock helped push Nasdaq 100 and S&P500 higher on Monday. Nasadaq closed 0.38% higher to 25,977. S&P500 gained 0.1% and ended the trading day at 6,854. While the Dow Jones Industrial Average dropped 0.57% to 47,314
In early trading today, U.S. stock futures traded lower. Dow futures fell 0.2%, S&P futures slipped 0.26%, and Nasdaq 100 futures dropped 0.4%.
Palantir shares were volatile after strong Q3 results and upbeat AI-driven guidance, reversing from a 4% gain to a 4% loss in extended trading.
In the crypto market, Strategy, led by Michael Saylor, expanded its Bitcoin holdings again, purchasing 397 BTC between October 27 and November 2 for $45.6 million, at an average price of $114,771 per coin.
This brings the company’s total to 641,205 BTC, acquired at an average of $74,057 per coin, representing a total investment of $47.49 billion.
Despite this, cryptocurrencies remain under pressure as they struggle to rebound from the October 10th crash. Bitcoin fell 3.5% yesterday and it continued to trade lower today as the cryptocurrency fell below $105,000. Ether lost more than 7% yesterday and is currently nearing the low recorded on 10 October at $3,447. The coin is currently trading at $3,530 with clear selling pressure.
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