AMAZON COM INC entered into Letter Agreement with OpenAI Group PBC valued at $35.0 billion (effective 2026-02-27).
“On February 27, 2026, Amazon.com NV Investment Holdings LLC (“Amazon Sub”), a wholly-owned subsidiary of Amazon.com, Inc. (the “Company”), entered into an equity commitment letter agreement (the “Letter Agreement”) with OpenAI Group PBC (“OpenAI”), pursuant to which Amazon Sub agreed to purchase shares of OpenAI’s Series C Preferred Stock (the “Commitment Shares”) with an aggregate purchase price of $35.0 billion (the “Commitment Amount”).”
Adam N. Selipsky departed as CEO Amazon Web Services at AMAZON COM INC.
“On May 14, 2024, Amazon.com, Inc. (the “Company”) announced that Adam N. Selipsky, CEO Amazon Web Services, is resigning from the Company, effective as of June 3, 2024.”
Governance Changes
AMAZON COM INC: Amended bylaws to adopt Delaware Court of Chancery as exclusive forum for certain claims and federal courts as exclusive forum for Securities Act claims (effective 2024-05-03).
“On May 3, 2024, the Board of Directors of Amazon.com, Inc. (the “Company”) approved and adopted amendments to the Company’s Amended and Restated Bylaws (the “Bylaws”) to provide that the Court of Chancery of the State of Delaware is the exclusive forum for certain state corporate law or shareholder derivative claims, and that the federal district courts of the United States of America are the exclusive forum for the resolution of any action asserting a claim under the Securities Act of 1933, as amended, in each case to the fullest extent permitted by law and unless the Company consents in writing to the selection of an alternative forum.”
Earnings Releases
AMAZON COM INC reported first quarter ended March 31, 2024 results: revenue $143.3 billion, net income $10.4 billion, EPS $0.98 per diluted share.
“SEATTLE—(BUSINESS WIRE) April 30, 2024—Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its first quarter ended March 31, 2024. • Net sales increased 13% to $143.3 billion in the first quarter, compared with $127.4 billion in first quarter 2023. Excluding the $0.2 billion unfavorable impact from year-over-year changes in foreign exchange rates”
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