Investors Should Buy the Stocks of These 3 OpenAI Partners Regardless of What Happens to OpenAI

Numerous tech stocks plunged after OpenAI reportedly missed its own revenue targets. As a company that is currently private, it is not legally required to publicly disclose its financials.

Nonetheless, despite a recent $122 billion fundraising round, indications that OpenAI is falling short of its own financial benchmarks raise questions about its future, and investors' views on some of its key partners have suffered as a result.

However, these OpenAI partners have diverse revenue bases. While it might be a setback for them if OpenAI did not completely fulfill the terms of its contracts, these cloud computing companies could still prosper.

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1. Amazon

Investors know Amazon (NASDAQ: AMZN) as a diverse business. As an e-commerce and cloud computing pioneer, it has amassed one of the most solid balance sheets in the tech industry, and it boasts a diverse set of clients in its AWS cloud business.

AWS made a $50 billion investment in OpenAI. This started with a $15 billion initial investment, which grants AWS access to OpenAI's models through Amazon Bedrock. In return, OpenAI has inked a $138 billion multiyear deal to lease about 2 gigawatts worth of Amazon's Trainum chips for its AI workloads.

Nonetheless, investors should remember that Amazon is a $2.8 trillion company with $127 billion in liquidity. Despite pledging $200 billion in capital expenditures (capex) for 2026, the company continues to generate positive free cash flow, indicating it can afford such investments. Thus, should the OpenAI deal fall through, it is likely investors would barely notice.

Also, Amazon's performance appears solid. Across its enterprises, Amazon's net sales rose by 12% to $717 billion in 2025. AWS, which accounts for $129 billion of that revenue, reported a 20% revenue increase. Additionally, Amazon's stock has surged in April, and it is up by 30% from its March low. Although its P/E ratio is now 36, that is low enough that the share price increases could continue.

2. CoreWeave

In percentage terms, Amazon's cloud competitor CoreWeave (NASDAQ: CRWV) relies more heavily on OpenAI. The company, which has scaled quickly as an artificial intelligence (AI)-specific cloud provider, has $22.4 billion in agreements with OpenAI, accounting for approximately one-third of its $66.8 billion backlog as of the end of 2025.

CoreWeave also has a $21 billion agreement with Meta Platforms. Furthermore, its partnership with Nvidia grants CoreWeave access to the chipmaker's latest AI accelerators, which may give it a competitive advantage over its peers. Moreover, it is likely to report an even larger backlog when it delivers its first-quarter results on Thursday, since it signed a multiyear agreement with Anthropic in April.

Still, that backlog means CoreWeave is already dealing with more demand for cloud computing than it can handle. It has run up billions in debt and invested more than $10 billion in 2025 alone to increase its capacity.

In 2025, its revenue rose by 168% to $5.1 billion. Meanwhile, though the consensus analyst forecast is for about $12.5 billion in revenue in 2026, meeting that projection would still leave CoreWeave with a significant backlog.

Amid concerns about OpenAI's ability to fulfill its long-term commitments, CoreWeave's stock is off by almost 15% from its 2026 high. Still, with a massive backlog and trading at a price-to-sales (P/S) ratio of 9, CoreWeave's growth potential with or without OpenAI arguably makes it a stock worth buying.

3. Oracle

Perhaps no company has been more tied to OpenAI than Oracle (NYSE: ORCL). In September, it signed a massive five-year, $300 billion deal to provide computing power to OpenAI's Project Stargate.

At the time, Oracle stock surged. Nonetheless, as doubts emerged as to whether OpenAI could live up to that end of the bargain, investors sold off the stock, and it has lost about half of its value from last year's peak.

As of Feb. 28, the end of its fiscal 2026 third quarter, Oracle had a $553 billion backlog. If OpenAI collapsed rapidly, it would cost Oracle more than half of that expected future business.

However, like CoreWeave, Oracle cannot meet its current demand. Its cloud segment accounted for $36 billion of the $64 billion of its total revenue over the trailing 12 months. Total revenue rose 15% over the previous year, including a 30% rise in cloud revenue.

Also, Oracle is negotiating a $20 billion deal with Meta Platforms and has multicloud agreements with Amazon, Microsoft, and Alphabet, indicating it will likely continue expanding with or without OpenAI.

Finally, thanks to the stock's pullback, it's selling for just 30 times earnings. Considering its growth rate, one could argue that now is the time to buy Oracle stock.

Will Healy has positions in CoreWeave. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, Microsoft, Nvidia, and Oracle. The Motley Fool has a disclosure policy.