Tencent has teamed up with UnionPay with a move that could give state-owned banks a bigger slice of China’s booming digital payments market. UnionPay, which is a network created by China’s biggest state-owned banks and operates the country’s most widely used credit card, has struck an agreement with Tencent to standardize the QR codes that consumers scan to make payments with their smartphones,...
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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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