Amazon’s $38 billion OpenAI deal shows it is no longer an AI laggard

Amazon’s $38 billion cloud deal with OpenAI marks a major endorsement for the e-commerce giant’s cloud business after recent setbacks, including ceding market share to rivals and an outage that disrupted large parts of the internet.

After years of leading the cloud computing industry with its highly profitable Amazon Web Services business, Amazon has watched Microsoft and Alphabet’s Google snatch big-ticket contracts with their AI-steeped clouds.