InvestmentMar 29, 2026, 08:05 PM
Amazon to Purchase $35 Billion in OpenAI Series C Preferred Stock
AI Summary
Amazon.com NV Investment Holdings LLC, a subsidiary of Amazon, has entered into an equity commitment letter with OpenAI to purchase $35 billion in Series C Preferred Stock. Amazon guarantees the obligations of its subsidiary, and the purchase is contingent on certain milestones or OpenAI's public listing, with a deadline of December 31, 2028.
Key Highlights
- Amazon Sub will purchase shares of OpenAI’s Series C Preferred Stock with an aggregate purchase price of $35.0 billion.
- Amazon Sub is obligated to purchase all remaining Commitment Shares upon the earlier to occur of (i) OpenAI meeting specified milestones, and (ii) OpenAI directly or indirectly consummating an initial public offering or direct listing of equity securities in the United States.
- The parties’ obligations under the Letter Agreement will terminate if Amazon Sub has not invested the Commitment Amount by December 31, 2028.