Shares of Amazon (NASDAQ: AMZN) are showing big signs of life again.

For one, OpenAI is in talks with the e-commerce giant about an investment that could exceed $10 billion. It could also include an agreement to use Amazon AI chips, too. This comes not long after OpenAI restructured and outlined the details of its relationship with Microsoft, which, according to CNBC, will allow it to raise capital and partner with other AI companies.

Two, just weeks ago, Amazon ran on news of its plans to invest $35 billion across its businesses in India through 2030. By then, the plan is expected to quadruple exports to $80 billion, while delivering AI benefits for millions of small businesses. 

And technically, shares of Amazon just found support at $222.56, with overextensions on RSI, MACD, and Williams’ %R. From its last traded price of $222.56, we’d like to see the stock initially break through its 50-day moving average at around $229.25 a share. Helping, Oppenheimer raised its price target for AMZN from $290 to $305, noting that Amazon Web Services (AWS) could double its capacity through 2027, and serve as a key stock catalyst. 

Sincerely,

Ian Cooper