Meituan, China’s biggest food delivery and on-demand services app, reported a 25% rise in revenue for the quarter through March, beating analysts’ expectations. The company’s food delivery business, its biggest source of revenue, grew 17%. Revenue from another major business segment that consists of relatively new operations such as a type of online grocery service known as community group...
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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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