ByteDance will scale back its fintech operations and sell its brokerages, Reuters reported, amid tightening oversight of online financial services. The owner of TikTok, the global hit short-video app, operates stock brokerages Songshu Zhengquan in Hong Kong and Haitun Gupiao in mainland China. Last year, China ordered Alibaba’s financial services affiliate Ant Financial to restructure after...
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The Briefing cloud ai
Amazon’s Anthropic Deal Signals Cloud Sector Turbulence
You know the cloud industry is in upheaval when industry leader Amazon Web Services has to copy a tactic used by its smaller rivals to compete more effectively. The Amazon unit’s decision on Monday to invest up to $4 billion in AI startup Anthropic, as part of a broader deal in which AWS becomes the startup’s “primary cloud provider,” looks a lot like the type of equity-for-business deals AWS...
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