Equities

Reuters first to report Pentagon awards $10 bln cloud deal to Microsoft; market reacts

Reuters first to report Pentagon awards $10 bln cloud deal to Microsoft; market reacts

Reuters was first to report that Microsoft beat out favorite Amazon.com to win the Pentagon’s $10 billion Joint Enterprise Defense Infrastructure (JEDI) cloud computing contract. The news lifted Microsoft shares 3% in after hours trading on Friday, and weighed on Amazon’s stock. The contracting process had long been mired in conflict of interest allegations, drawing the attention of U.S. President Donald Trump, who has publicly taken swipes at Amazon and its founder Jeff Bezos