Verizon disclosed that it took a $4.6 billion writedown on its Oath business, or about half of what it spent to buy the Yahoo and AOL businesses that make up the division. In a securities filing, Verizon cited “increased competitive and market pressures” for the writedown. The move raises questions once again why the telecommunications company didn’t spin off the company earlier this year. As...
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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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