OpenAI has signed a seven-year, $38 billion deal to buy cloud services from Amazon.com, in its first big push to power its AI ambitions after a restructuring last week that gave the ChatGPT maker greater operational and financial freedom.

Amazon will provide OpenAI with access to its AWS EC2 UltraServers, which utilize hundreds of thousands of the latest NVIDIA GPUs.

Experts say the incident revealed what can happen when a such a broad spectrum of companies rely on singular cloud provider.

Shares of Amazon ( AMZN +3.99%) jumped on Monday, finishing the day up 5%. The move higher came as the S&P 500 gained 0.1% and the Nasdaq Composite rose 0.4%. The tech behemoth inked a major deal to provide OpenAI with $38 billion worth of artificial intelligence (AI) computing capacity.

AWS’ $38 billion OpenAI deal will fuel AI and ChatGPT, CEO Matt Garman says, thanks to Nvidia chips, AWS cloud infrastructure and AI innovation.

At about 4:30PM ET on October 20, things seemed to be returning back to normal. Apps like Venmo and Lyft, which were either slow to respond or completely nonresponsive before, were appearing to behave smoothly.

A massive Amazon Web Services (AWS) outage is wreaking havoc on the Internet. In an update Monday morning, Amazon said that it is “still experiencing elevated errors.” A massive Amazon Web Services (AWS) outage is affected major websites and apps on Monday. Downdetector is even running a breaking news bar at the top of the site.

A massive Amazon Web Services outage took down dozens of major websites and apps early Monday, affecting platforms like Disney+, Reddit, Lyft, and United Airlines.

Cipher Mining, which builds and runs data centers for bitcoin mining and has recently expanded its focus to AI, revealed in its third-quarter earnings report that it  has inked a 15-year lease agreement with Amazon Web Services worth around $5.

An Amazon Web Services outage impacting Amazon's own services and as well as apps around the world wasn't resolved until Monday evening.`

Amazon.com cloud service returned to normal operations on Monday afternoon, the company said, after an internet outage that caused global turmoil among thousands of sites, including some of the web's most popular apps like Snapchat and Reddit.

Cipher Mining’s stock ($CIFR) surged 19% on Monday after the company announced a massive $5.5 billion, 15-year lease deal with Amazon Web Services