Wedbush raised the firm’s price target on Amazon.com (AMZN) to $340 from $330 and keeps an Outperform rating on the shares after the company announced a multi-year strategic partnership with OpenAI. OpenAI will initially use existing Amazon Web Service data centers, with Amazon eventually building out additional dedicated infrastructure for the company, the analyst tells investors in a research note. Wedbush believes the deal builds on Amazon’s current partnership with Anthropic, serving as the company’s primary cloud provider. The partnership with OpenAI “is a continued move in the right direction for Amazon,” it contends.
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