Amazon.com Inc (NASDAQ:AMZN) shares are slightly lower Thursday. The company announced a strategic collaboration with GE HealthCare and was selected by the National Basketball Association (NBA) to telecast NBA games over the next decade.
What Happened: GE HealthCare and Amazon Web Services (AWS) announced a strategic collaboration to develop foundation models and generative AI applications aimed at helping clinicians improve medical diagnostics and patient care.
GE Healthcare said it will use AWS's generative AI services to build and implement new foundation models. The models are expected to streamline healthcare operations, increase diagnostic and screening accuracy, enhance outcomes, lower access hurdles and promote equitable care.
"This new collaboration with AWS allows us to build on our legacy of innovation by embracing the power of AI to expedite the creation of medical technologies that we expect will redefine clinical workflows and the delivery of care," said Peter Arduini, president and CEO of GE HealthCare.
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What Else: After the market close on Wednesday, the NBA announced a renewal of its partnership with Disney, as well as new agreements with NBCUniversal and Amazon under which ABC/ESPN, NBC/Peacock and Prime Video will telecast NBA games beginning with the 2025-26 season. The deal is set to remain in place through the 2035-36 season.
"These partners will distribute our content across a wide range of platforms and help transform the fan experience over the next decade," said NBA Commissioner Adam Silver.
Under the new deal, Amazon will distribute 66 NBA regular-season games on Prime Video each season. Amazon's Prime Video will also distribute all six NBA Play-In Tournament games and stream approximately one-third of the first and second rounds of the playoffs each year.
The NBA also announced that Amazon's Prime Video will become a strategic partner of the NBA, making it the third-party global destination of NBA League Pass.
It's worth noting that some of the selloff in Amazon shares on Thursday appears to be tied to weakness in the broader market. The Nasdaq was leading market indices lower at last check.
AMZN Price Action: Amazon shares were down 0.43% at $180.05 at the time of publication, according to Benzinga Pro.
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