Capital One has fired back at Walmart, which sued the bank in April to end a credit card partnership between the two companies, by alleging the retail giant is trying to abandon the deal in order to move its credit card business to a fintech venture it backs. The Walmart-backed fintech venture, One, currently offers users checking and savings accounts, along with debit cards. It also plans to...
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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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