Amazon Web Services has agreed to provide U.S. federal agencies with up to $1 billion in discounts for cloud adoption, modernization and training through 2028, an agency overseeing government procurement announced Thursday.

The agreement is expected to speed up migration to the cloud, as well as adoption of artificial intelligence tools, the General Services Administration said.

“AWS’s partnership with GSA demonstrates a shared public-private commitment to enhancing America’s AI leadership,” the agency said in a release.

Amazon‘s cloud boss Matt Garman hailed the agreement as a “significant milestone in the large-scale digital transformation of government services.”

The discounts aggregated across federal agencies include credits to use AWS’ cloud infrastructure, modernization programs and training services, as well as incentives for “direct partnership.”

The GSA announced a similar deal last month with cloud rival Oracle. The agency also reached an agreement with OpenAI on Wednesday that will give federal agencies access to ChatGPT for $1 through the next year.

WATCH: Top AWS exec on the outlook for generative AI

Duolingo shares skyrocketed more than 30% after the language learning platform boosted its guidance due to strong user growth driven by artificial intelligence.

The mobile learning platform hiked its full-year guidance to between $1.01 billion and $1.02 billion, up from a prior range of $987 million to $996 million. Duolingo also lifted its bookings guidance to between $1.15 billion and $1.16 billion.

“We exceeded our own high expectations for bookings and revenue this quarter, and did it while expanding profitability,” said co-founder and CEO Luis von Ahn in a release.

Daily active users jumped 40% to nearly 48 million from about 34 million in the year-ago period.

In an effort to expand its course offerings and boost users, Duolingo has implemented AI tools, including a video-call conversation practice feature for some paying subscribers. The company has also expanded beyond language learning with new course such as chess.

Duolingo also announced the acquisition of London-based music gaming startup NextBeat for an undisclosed amount as it looks to broaden its app products.

The company’s CEO said Duolingo is still in the early stages of its growth trajectory.

Revenues jumped about 41% year over year to $252 million and beat a Wall Street estimate of $241 million. Net income grew 84% from a year ago to about $45 million, or 91 cents per share.

For the third quarter, Duolingo projects revenues between $257 million and $261 million, surpassing the $253 million forecast from Wall Street analysts.

WATCH: AI enhances conversational language learning, says Duolingo CEO Luis von Ahn

The crypto market jumped Thursday on excitement that bitcoin and other digital assets could soon be coming to 401(k) retirement plans.

President Donald Trump is set to sign an executive order that would allow 401(k) accounts to invest in alternative assets, including private equity, real estate and digital assets, CNBC has confirmed.

The price of bitcoin climbed around 1% to reclaim the $116,000 level for the first time since July 31. Ether rose almost 5%, also retaking a one-week high.

Crypto-linked stocks got a boost of energy as well. Coinbase gained 3%, Galaxy Digital advanced 6% and ether treasury stock Bitmine Immersion rose nearly 8%.

Widespread inclusion of bitcoin in Americans’ retirement accounts has long been viewed as a holy grail for crypto adoption. Conceivably, it would make it a mainstay of U.S. financial infrastructure, expand access and encourage longer-term investing in the asset. The retirement market is currently worth $43 trillion.

“That’s a monster pool of capital. What we’re seeing … [is] the aperture of being able to buy crypto being widened and widened, [and] more avenues bringing people into the tent,” Galaxy CEO Michael Novogratz told CNBC’s “Squawk Box” Thursday.

“When it becomes commonplace – when you can do it at the place you’ve already been doing business with, if its Fidelity or T. Rowe Price or whoever it is – you just pull more people into this ecosystem,” he added.

Fidelity in 2022 became the first retirement plan provider to offer investors the option to put bitcoin in their 401(k)s, but the service hinges on employer adoption. Adoption since then has been low given that year’s rate hike driven bear market, lingering regulatory risk from the previous administration, as well as general caution and skepticism from investors.

The executive order, first reported by Bloomberg, is the latest in a series of efforts under the Trump administration to make the U.S. the “crypto capital of the world.” In July, he signed stablecoin legislation known as the GENIUS Act into the first official U.S. crypto law.