Amazon.com (AMZN) PT Raised to $300 at HSBC

HSBC analyst Paul Rossington raised the price target on Amazon.com (NASDAQ: AMZN) to $300.00 (from $285.00) while maintaining a Buy rating.

The analyst comments: "AWS agrees 7-year USD38bn deal with OpenAI: AWS has agreed a 7-year USD38bn deal to supply OpenAI with cloud capacity, further endorsing AWS's compute buildout capabilities. Open AI (a private company) will start using ASW services immediately, with all planned capacity to come online by the end 2026, with room to expand further in 2027 and beyond. Key to AWS's ability to sign a deal with OpenAI has been the increase in AWS's power, data centre and chip capacity. As reported at the Q3 results last week, AWS has added 3.8GW of capacity in the past 12 months, more than any other western cloud service provider, and will add another 1GW in Q4. This means that AWS has doubled capacity in the last three years, and AWS expects to double it again by the end of FY27e."

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