AWS will power OpenAI’s next-generation models in a $38 billion deal as the AI firm moves beyond Microsoft.
As demand for powerful infrastructure explodes, tech giants are forging multibillion-dollar deals to power AI models. On Monday, November 3, OpenAI signed a seven-year, $38 billion agreement with Amazon Web Services. The deal gives OpenAI access to AWS’s massive compute capacity.
OpenAI will have access to thousands of Nvidia GPUs. These include the GB200 and GB300 series Amazon EC2 UltraServers, optimized for AI compute. According to Amazon, this infrastructure can scale to tens of millions of CPUs, both for training and running the models.
The deal is part of OpenAI’s $1.4 trillion investment to expand its infrastructure capacity. According to CEO Sam Altman, the firm plans to develop 30 gigawatts of power capacity. For comparison, a single nuclear power plant has about 1 gigawatt in capacity, while 30 gigawatts could power 26 million homes for a year.
OpenAI’s previous deals have raised questions about a potential AI bubble. Critics warned that increased AI firm valuations, as well as their capital expenditure, are not in line with AI demand and profitability.


BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate. BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more
