SPACs don’t give anyone “a free pass” for exaggerating or leaving out key details about a company’s financial position or prospects, an SEC official said on Thursday, in a long statement about the risks involved with SPACs that was posted on the regulator’s web site. John Coates, the acting director of the SEC’s division of corporate finance, appeared to rebut the idea that one reason SPACs...
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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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