New York, Jan 31, 2026, 09:33 EST — Market closed.
- Amazon shares fell 1% in Friday’s session, ending at $239.30.
- A report said Amazon is in early talks to invest up to $50 billion in OpenAI.
- Investors now turn to Amazon’s Feb. 5 results for clues on spending and cloud demand.
Amazon.com (AMZN.O) shares fell 1% on Friday to $239.30, after trading between $237.83 and $243.29, and the U.S. market is shut on Saturday.
The move came as investors weighed a report that Amazon is in talks to invest dozens of billions of dollars in ChatGPT-maker OpenAI, with the figure potentially as high as $50 billion, a source told Reuters. The talks are early and the final numbers have not been set.
Why it matters now: OpenAI is trying to raise up to $100 billion at a valuation of about $830 billion, putting fresh attention on how much Big Tech is willing to spend — and on what it gets back in chips, data-center capacity and commercial tie-ups. Amazon declined to comment and OpenAI did not immediately respond to a Reuters request for comment.
A separate report said Nvidia, Amazon and Microsoft are in discussions to invest up to $60 billion in OpenAI, and that OpenAI is close to receiving term sheets — non-binding documents that spell out key terms before a final deal. The report said Amazon’s investment could hinge on separate negotiations, including a possible expansion of OpenAI’s cloud-server rental deal with Amazon.
On Saturday, Nvidia CEO Jensen Huang said his company would make a “huge” investment in OpenAI and dismissed claims he was unhappy with the startup as “nonsense.” “We will invest a great deal of money, probably the largest investment we’ve ever made,” he told reporters, while saying it would not be over $100 billion. Reuters
For Amazon shareholders, the next hard catalyst is earnings. The company has scheduled its fourth-quarter results conference call for Feb. 5 at 5:00 p.m. ET.
Traders will be listening for any change in tone on Amazon’s spending plans, especially as the AI race pushes companies to commit more cash to infrastructure. Cloud demand signals matter here because Amazon’s AWS unit remains a key profit engine.
The OpenAI talks also raise a more basic question: whether Amazon wants deeper, more exclusive access to fast-moving AI products, or whether it is positioning to sell more computing capacity and services as the buildout accelerates. Either way, investors will press for clarity on payback timelines.
Still, the downside case is easy to sketch. The discussions could fade, shrink, or come with terms that are expensive in cash and attention, and the market may punish any sign that returns are too distant or too uncertain.
When trading resumes on Monday, Feb. 2, investors will watch for follow-on reporting or company disclosures around OpenAI’s funding round, and then for Amazon’s results and guidance on Thursday, Feb. 5.
