OpenAI has entered into a multi-year strategic partnership with Amazon Web Services, enabling it to tap into the cloud services provider's infrastructure and compute resources as it ramps up its efforts to build artificial general intelligence (AGI).

The AWS partnership is OpenAI's first major cloud computing deal since it struck a new agreement with Microsoft, which gave it more flexibility.

CNBC's MacKenzie Sigalos reports on Amazon’s record-setting rally after signing a $38 billion cloud deal with OpenAI.

The S&P 500 and the Nasdaq advanced on Monday, with artificial intelligence-related deals driving much of the gains even as the Federal Reserve's near-term monetary policy grew increasingly foggy due to scarcity of official U.

Ahead of the opening bell, the Dow shed early losses and edged higher, with Nvidia and Cisco Systems CSCO doing most of the lifting. S&P 500 futures gained 0.3%. The Nasdaq 100 futures advanced 0.6% in premarket trading.