Stock Market Update
03-Nov-25 09:12 ET
Futures point to higher open amid Amazon, OpenAI announcement
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: +34.00. Nasdaq futures vs fair value: +245.00.
The stock market is on track for a higher open, with mega-cap tech driving the premarket gains.
Amazon (AMZN +256.90, +13.11, +5.4%) moves sharply higher after announcing a multi-year, strategic partnership that provides AWS's world-class infrastructure to run and scale OpenAI's core artificial intelligence workloads starting immediately.
Under this new $38 billion agreement, which will have continued growth over the next seven years, OpenAI is accessing AWS compute comprising hundreds of thousands of state-of-the-art NVIDIA (NVDA 207.60, +5.16, +2.6%) GPUs, with the ability to expand to tens of millions of CPUs to rapidly scale agentic workloads.
