OPENAI, AMAZON SIGN $38 BILLION CLOUD DEAL

Summary from the TLDR newsletter

OpenAI will pay Amazon $38 billion for computing power in a multiyear deal. Amazon expects all of the computing capacity negotiated as part of the agreement to be available by the end of the year. It wasn't able to sell its cloud services to OpenAI for years because OpenAI had an exclusive cloud-computing partnership with Microsoft. OpenAI is set to generate $13 billion in revenue this year. It will have to continue expanding sales at an exponential rate to pay for its computing needs. Sam Altman claims that OpenAI is facing severe computing shortages and that revenue will grow even faster as more capacity becomes available.