Amazon‘s $38 billion cloud deal with OpenAI marks a major endorsement for the e-commerce giant’s cloud business after recent setbacks, including ceding market share to rivals and an outage that disrupted large parts of the internet.
Amazon logo outside an Amazon warehouse in Manchester, Britain, October 28, 2025 – REUTERS/Phil Noble/File Photo
After years of leading the cloud computing industry with its highly profitable Amazon Web Services (AWS) business, Amazon has watched Microsoft and Alphabet’s Google snatch big-ticket contracts with their AI-steeped clouds. Its lead in the cloud market slipped to 29% as of September, from 34% a few months before ChatGPT was launched in 2022, according to data from Synergy Research Group.
Amazon was considered a laggard in the AI race by many investors because it was late to launch a flagship large language model and for failing to offer a consumer-facing chatbot like OpenAI’s ChatGPT. Recently, though, the company has ramped up spending on its AI efforts, and last month opened an $11 billion AI data centre in Indiana called Project Rainier, where startup Anthropic’s models are being trained using Amazon’s own Trainium chips.
Monday’s deal with OpenAI, a marquee customer, coupled with strong quarterly results last, suggests AWS is regaining momentum, analysts and investors said.
“While it is small relative to other deals OpenAI has made with other cloud providers, it represents a key first step in Amazon’s effort to partner with a company that is spending over a trillion dollars on computing power in the coming years,” said Mamta Valechha, analyst at Quilter Cheviot.
Amazon’s stock rose 5% after the deal to a record high after it traded little changed for most of the year, lagging the gains seen in other Big Tech stock that have surged on cloud-computing deals worth hundreds of billions of dollars with AI startups.
Microsoft last week disclosed a $250 billion OpenAI commitment for its Azure cloud services under a new arrangement that allowed OpenAI to restructure itself, while Oracle has signed a $300 billion deal with the startup. Google has a chip agreement worth tens of billions with Anthropic among other AI tie-ups.
Amazon’s efforts have in part been hampered by executive losses. A key vice president helping oversee generative AI development left for another company, Reuters reported in June. To stay competitive and fund the costly data centres needed to support the technology, CEO Andy Jassy has tried to cut through management layers and even installed an anonymous complaint line for identifying inefficiencies.
The company said last week it would reduce its corporate workforce by about 14,000 in one of its biggest layoffs. It is also spending more on AI, with its capital expenditure expected to total around $125 billion this year and more the year after. That is more than Alphabet’s planned outlay of up to $93 billion, and roughly in-line with what Wall Street expects Microsoft to spend this year.
Analysts said the OpenAI deal offers a credible path for Amazon to recoup its spending. Brian Pitz, an analyst at BMO Capital Markets, estimates that this may boost AWS’s backlog by about 20% in the fourth quarter ending December, from $200 billion as of September end.
“It clearly seems like they (Amazon) are finally in the flow of what is happening with these large language models versus before,” said William Lee, an investor at SuRo Capital that holds equity in OpenAI.
Long reserved for women or military dress, brooches adorned men’s chests during Milan Fashion Week, a throwback to a bygone era but with jewellery now signalling individuality, not just status.
A brooch by Dolce & Gabbana – Aleksej Shelikhov- Facebook
From huge flowers or watch brooches at Dolce & Gabbana to pins at Armani, the bling passed from hands to jackets during the fall/winter 2026/2027 shows in the Italian city.
“I like these small details, people have to pay attention to them,” said reggaeton star Rauw Alejandro, in the front row at Prada.
Chinese buyer John Chen, 45, sported a gold brooch in the shape of a triangle, the Milanese brand’s logo, on a green sweater just below his neck. “I started wearing brooches about five years ago. I like to play with them” to personalise outfits, he told AFP.
In Armani’s refined yet relaxed collection, some men sported a tie pin on their jacket lapel, while male and female models wore matching sparkling brooches. At designer Rowen Rose, a large orange stone was used to fasten a green or yellow scarf to a matching sweater.
“It gives an extra touch. It’s a good accessory- it’s become very masculine,” said Fabio Annese, a 26-year-old Milanese interior designer sporting a heart-shaped brooch at Dolce & Gabbana.
Known for its extravagant style, D&G has been selling brooches for men since entering the jewellery world in 2015, and they are “still important in more formal collections,” a spokesperson said. Among their offerings are crosses, crowns, scarabs, and flowers in gold and embellished with diamonds, the last costing a cool 7,500 euros (around $8,800).
The trend is in many ways a return to the past. In Europe, until the 18th century, the “most important” jewellery was worn by men, explained Emanuela Scarpellini, professor of contemporary history at the University of Milan.
Wealthy and powerful men used it as a sign of their status, the glittering accessories often signalling membership of a noble family or a religious order, or military rank. It was only with the rise of the middle-classes and businessmen in the 19th century that came “the idea that men should dedicate themselves to work, with a more sober attitude,” Scarpellini said at the launch of a new Milan exhibition.
“The Gentlemen,” on show at the Palazzo Morando until September, reveals how men’s jewellery since then usually served a purpose, such as watches, cufflinks and tie pins. Nowadays “there’s a new freedom,” as with clothing, said exhibition curator Mara Cappelletti, a professor of jewellery history.
“There are fewer jewellery pieces with a function, and more with a freer choice,” she told AFP. “Many of the objects men wear today were not designed for a male audience,” she said, adding that many were vintage. “The brooch has never been so popular.”
Cappelletti noted that the trend was boosted by singers and actors wearing a lot of jewellery, noting a photograph of Italian singer Achille Lauro sporting a huge white gold and diamond sculpted piece on his chest, with matching earrings. All provided by the jeweller Damiani, which sponsors the pop star.
Global beauty business Sephora has announced a strategic, omni-channel partnership with Korean beauty and health retailer CJ Olive Young to bring a wide range of K Beauty products to its global customers.
CJ Olive Young aims to bring K Beauty to global shoppers – Olive Young
The partnership will debut this autumn with omni-channel partnerships set for the US, Canada, Hong Kong SAR, and Southeast Asia (Singapore, Malaysia, Thailand), Sephora announced in a press release on Tuesday. In 2027, the business will bring the tie-up to the Middle East, the UK, and Australia.
“Korean beauty is one of the most innovative, fastest growing, and desirable categories in beauty right now,” said Sephora’s global chief merchandising officer Priya Venkatesh in a press release. “Sephora was the first major retailer to debut K Beauty brands to North American consumers in 2010, and our portfolio has grown into a global business. We are thrilled to partner with leading Korean beauty retailer Olive Young, bringing their expertly curated assortment of Korean beauty brands to our beauty fans globally. Their differentiated assortment, coupled with Sephora’s unique point of view on the beauty shopping experience, will bring an unrivalled and inspiring offer for all beauty lovers who are keen to explore the most sought-after Korean beauty products.”
Sephora shoppers will be able to browse a dedicated zone curated by CJ Olive Young comprising popular Korean health and beauty brands. The business’ beauty advisor will also offer guidance and assistance to customers to help them find their desired products.
“We are pleased to enter this partnership with Sephora as we continue to advance our global expansion strategy,” said CJ Olive Young’s chief strategy officer Youngah Lee. “As global interest in K-beauty continues to accelerate, we see this collaboration as a meaningful opportunity to work together in expanding the reach of Korean brands in key international markets.”
Big beauty firms continue to open statement stores at key UK destinations with Superdrug now choosing to “significantly upsize” at Merry Hill.
Merryhill
It’s set to double its footprint to 16,000 sq ft at the West Midlands mall creating the brand’s biggest UK store to date.
Planned to open in Q2, Superdrug’s recommitment to Merry Hill is the latest in a series of leading brands to “significantly invest” in the centre, with operator Sovereign Centros/CBRE noting a 3% year-on-year sales boost in the beauty category.
It follows M&S’s 100,000 sq ft flagship store opening in November, which also includes a strong beauty element, while Superdrug sister value beauty brand Savers opened a 5,000 sq ft unit last year, also its largest in the UK so far.
The upsized Superdrug store will feature a more extensive range of the latest beauty products, as well as access to treatments such as ear piercing, manicures, and eyebrow threading.
Clare Jennings, property director at Superdrug, said: “This year, we will continue our programme of refurbishing stores, acquiring new sites and expanding existing stores, with Merry Hill selected as the site for one of our largest Superdrug stores in the UK.
“Choosing Merry Hill for this expansion was ideal, given its strong mix of health and beauty retailers and its position as a super-regional hub in the West Midlands. It’s the perfect location to grow our store and continue serving our loyal Merry Hill customers.”
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