Amazon.com Inc ( AMZN ) shares are trading higher Monday morning, hitting a new all-time high, following the announcement of a multi-year, strategic partnership between Amazon Web Services and OpenAI. Here’s what investors need to know.

AMZN is poised for potential breakout. See what is driving the move here.

What To Know: The $38 billion agreement will see OpenAI run its advanced generative AI workloads on AWS’s infrastructure. As part of the deal, AWS will provide OpenAI with access to Amazon EC2 UltraServers, which feature hundreds of thousands of chips, including NVIDIA GB200s and GB300s. AWS CEO Matt Garman said the infrastructure will “serve as a backbone” for OpenAI’s ambitions.

This news amplifies the strong momentum from Amazon’s third-quarter earnings report last week, where AWS was a standout performer. In the third-quarter, AWS revenue grew 20% year-over-year to $33.0 billion, its fastest growth pace since 2022.

Following the strong quarter, analysts raised their price targets on AMZN, with one firm calling AWS “the star of the show“. This new OpenAI partnership reinforces analyst sentiment that AWS’s positioning in artificial intelligence is a key driver for the company’s future growth.

Benzinga Edge Rankings: Underscoring the stock’s new all-time high AMZN boasts a high Growth score of 92.99 and a positive price trend across all timeframes, according to Benzinga Edge Rankings.

AMZN Price Action: Amazon.com ( AMZN ) shares were up 4.43% at $255.03 at the time of publication on Monday. The stock is trading at a new all-time high, according to Benzinga Pro data.

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How To Buy AMZN Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Amazon’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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