Amazon Closes Record $50 Billion Investment in OpenAI

Amazon has completed its massive $50 billion investment in OpenAI, as announced in February. The e-commerce giant made an initial $15 billion investment during the first quarter and followed up with another $13.7 billion in the second quarter.

The remaining $21.3 billion of Amazon's commitment was invested sometime after June 30. As part of their deal, OpenAI has agreed to use Amazon Web Services (AWS) as its exclusive third-party cloud provider for its Frontier program and will expand prior infrastructure agreements with AWS that could total $100 billion over eight years.

OpenAI recently reported that its flagship product ChatGPT is approaching 1 billion weekly active users, a milestone reached in under four years. The company has also made changes to its models, cutting the price of two and accelerating the performance of a third while leaving its price unchanged.