Block responded to allegations of rampant fraud and inflated user numbers on Cash App raised last week by short seller Hindenburg Research, saying that most of its 51 million monthly active accounts were linked to people who had verified their identities. In a document distributed to investors on Thursday, Block acknowledged that it allows customers to maintain multiple accounts, but...
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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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