Wall Street’s coronavirus-inspired selloff continued on Tuesday, with the Dow Jones Industrial Average falling 286 points or about 1% by noon eastern time. Plenty of tech names were caught in the downdraft, including Apple, Netflix and Pinterest. But some notable names were up, including Alphabet and Facebook. Zoom Video, meanwhile, continues to surge. Its stock was up another 2.7% on Tuesday,...
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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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