🚀 OpenAI shifts from Microsoft to Amazon

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Market Overview
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Year To Date Performances:

1. OpenAI’s decade-long "exclusive" marriage to Microsoft has effectively ended, giving way to an aggressive expansion into Amazon Web Services (AWS). Following a second restructuring of its Microsoft partnership in six months, OpenAI announced a major integration with Amazon, enabling AWS customers to build AI agents directly using OpenAI models. This shift follows a $50 billion investment by Amazon in February, which includes a commitment by OpenAI to use 2 gigawatts of AWS’s custom "Trainium" chips for model training.

2. Bill Ackman’s Pershing Square officially debuted on the New York Stock Exchange yesterday. PS raised $5 billion in a dual listing that signals a pivot from traditional hedge fund management to a "permanent capital" model inspired by Warren Buffett’s Berkshire Hathaway. Despite pricing at the low end of initial expectations—which once reached $25 billion—the IPO marks a major milestone, offering retail investors access to a concentrated portfolio of large-cap stocks for as little as $50 USD per share.

3. Kevin Warsh’s nomination to lead the Federal Reserve cleared a critical hurdle Wednesday morning as the Senate Banking Committee voted 13-11 to advance his name to the full floor. The vote, which fell strictly along party lines, sets the stage for a final confirmation vote in the Republican-controlled Senate, likely during the week of May 11. If confirmed, Warsh would replace Jerome Powell, whose term expires on May 15, marking a significant shift toward President Trump’s preferred monetary policy amid mounting "stagflation" concerns.

   Headlines

   1. OpenAI and Sam Altman are being sued by the families of the victims of a mass shooting event in Canada.

   2. Trump is extending the Iran blockade, leading to higher oil prices.