OpenAI is in talks with Amazon regarding a $10 billion investment agreement

As reported by The Information, citing a source familiar with the matter, talks between the two remain "very fluid," but, in addition to the investment from Amazon, OpenAI could use Amazon Web Services' (AWS) custom Trainium AI chips.

Should the deal move forward, OpenAI would join Anthropic as a major AI company using the Trainium chips. Announced in late 2024, AWS has developed Project Rainier for Anthropic, a cluster of hundreds of thousands of Trainium2 chips located across multiple campuses in the US. Amazon is a major investor in Anthropic.

OpenAI and AWS already have a compute agreement in place. Earlier this year, OpenAI signed a $38bn multi-year agreement with AWS for access to hundreds of thousands of Nvidia GB200s and GB300s.

In addition to Nvidia GPUs, OpenAI is also a known user of Google's TPUs (tensor processing units), AMD's GPUs, and is also working on its own custom chips with Broadcom.

The investment could see OpenAI valued at more than $500 billion and, according to The Information, could lead to a broader fundraising round with other investors. In November 2025, HSBC analysts estimated that OpenAI would need to find around $207bn to meet its AI data center expansion plans.

Reuters also previously reported that the startup was exploring an IPO, aiming for a valuation of $1tn.

The news further solidifies OpenAI's move to embrace multiple cloud providers. Microsoft had previously been OpenAI’s exclusive cloud partner; however, following the Stargate announcement in January 2025, the two companies confirmed their partnership was no longer exclusive, with OpenAI now working also with Google and Oracle.