Amazon climbs into premarket after reports of a potential investment of $10 billion in OpenAI.

Amazon.com climbed Wednesday in pre-stock trading after a source said the US giant could invest around $10 billion (€8.54 billion) in OpenAI.

On Wall Street, Amazon stock is up about 1.4% to $225.68 before the market opens.

Amazon’s potential investment in OpenAI, revealed by The Information and confirmed by a source, would bring the valuation of OpenAI, the creator of ChatGPT, to more than $500 billion.

Negotiations between the two companies are “very fluid,” the source said on condition of anonymity.

Amazon and OpenAI did not immediately respond to requests for comment.

Last month, Amazon and OpenAI signed a $38 billion multi-year agreement to provide dematerialized computing (“cloud”) services.

OpenAI is also preparing an IPO, a strategy that could value it at up to $1 billion.