Amazon Web Services (AMZN) will hold its annual re:Invent 2025 in Las Vegas from December 1-5, and Bank of America expects the company to reveal its latest advancements in artificial intelligence, including the latest specifications for Tranium3 chips and its Nova series of models.
In particular, BofA will be looking at how these offerings measure up to Google’s (GOOG)(GGOGL) TPUs and Gemini series. Investors will also be interested in learning more about AWS’ partnership with OpenAI (OPENAI).
“With OpenAI recently committing $38B to rent AWS compute, and Anthropic (ANTHRO) now available across all major clouds, we think a natural progression would be for OpenAI to add frontier models APIs to Bedrock,” said BofA analysts, led by Justin Post, in a Monday investor note.
“In the absence of an OpenAI announcement, AWS could have announcements with other chip companies (for capacity or Trainium development) or AI companies as LLM API partnerships are expanding across the ecosystem,” Post added.
AWS is also expected to reveal new details surrounding its upcoming Trainium3 AI accelerator. It has been reported that the chip has twice the compute power of the Trainium2 and is about 50% more energy efficient.
“Despite notable growth in Trainium to date (Trainium is now a multi-billion dollar business that grew 150% q/q in 3Q’25), Amazon has indicated that Trainium is only used by ‘a small number of very large customers’ currently but will be able to accommodate more customers with the release of Trainium3,” Post said.
BofA has a Buy rating and a $303 price target on Amazon.
This year’s re:Invent will feature a keynote address from AWS CEO Matt Garman on Tuesday, Dec. 2. It will also include presentations from Nike (NIKE), Blue Origin, Netflix (NFLX), Adobe (ADBE), Condé Nast, Sony (SONY), Perplexity and TwelveLabs.