Chinese food delivery and on-demand services giant Meituan said its revenue rose 31% in the fourth quarter, the company’s slowest quarterly revenue growth in more than a year. Losses widened in the quarter as Meituan invested more in online grocery operations and other relatively new businesses. Meituan’s results come as China’s biggest tech companies are all grappling with the country’s...
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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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