Shares of Amazon ( AMZN +3.99%) jumped on Monday, finishing the day up 5%. The move higher came as the S&P 500 gained 0.1% and the Nasdaq Composite rose 0.4%. The tech behemoth inked a major deal to provide OpenAI with $38 billion worth of artificial intelligence (AI) computing capacity.

A recent Amazon Web Services report points to continued global cloud growth across sectors, with security, compliance and cost ranking among the key factors shaping adoption.

“AWS is growing at a pace we haven’t seen since 2022, re-accelerating to 20.2% YoY,” Andy Jassy, the president and CEO of Amazon, said in the company’s earnings announcement. “We continue to see strong demand in AI and core infrastructure, and we’ve been focused on accelerating capacity — adding more than 3.8 gigawatts in the past 12 months.”

Amazon's cloud revenue rose at the fastest clip in nearly three years, helping the company forecast quarterly sales above estimates and driving its shares up 14% in after-market trading.

Experts say the incident revealed what can happen when a such a broad spectrum of companies rely on singular cloud provider.