Amazon Web Services, which has long served as a profit engine for Amazon, saw revenue increase 27% to $20.5 billion in the three months to Sept. 30 compared to last year. That marked the lowest quarterly sales increase since Amazon started breaking out AWS results in 2015 and was down 6% from last quarter’s annualized growth. The slowdown suggests that even the cloud industry’s dominant...
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The Electric: Western Auto and Battery Makers’ Big Gamble on Indonesian Nickel
For much of the last century, metals companies have made stainless steel from nickel mined in Russia or the Philippines and smelted at temperatures up to 2,900 degrees. But demand for nickel is outstripping supplies because the metal is a key component in most electric vehicle batteries. So metals producers have turned to a new supplier—Indonesia, which possesses vast reserves of a previously...
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