OpenAI in talks to raise at least $10 billion from Amazon and use its AI chips

OpenAI is in initial discussions to raise at least $10 billion from Amazon and use its chips, a potential win for the online retailer’s effort to broaden its AI industry presence and compete with Nvidia Corp.

The deal under discussion could value OpenAI north of $500 billion and see it adopt Amazon’s Trainium chip, a person with knowledge of the matter said, asking to remain anonymous to describe private negotiations. Talks, however, are at a preliminary stage and terms could change, the person added.

A deal would mark a win for Amazon’s…