Microsoft loses 34 billion

See how Walmart can stock your kitchen when you're not home. Here's what it was like in the courtroom for the Elizabeth Holmes verdict. Microsoft winning the JEDI contract in over Amazon caused some controversy, surprising many industry experts who saw Amazon as the stronger candidate to win the contract.

Amazon Web Services is widely viewed as the market leader in the cloud computing industry. Pentagon watchdog finds Defense Department behaved appropriately but doesn't rule on White House influence over controversial cloud contract.

Read More. In March , the department said it wished to re-evaluate its decision to award the contract to Microsoft. Now, the Defense Department plans to cancel it altogether and solicit bids for a new, updated contract from both Microsoft and Amazon. The Defense Department said it decided to cancel the contract "due to evolving requirements, increased cloud conservancy and industry advances," in a press release.

Because of this, the JEDI contract "no longer meets its needs," the release states. All this hinders the activity of traders who are in no hurry to invest in the current conditions. Save my name, email, and website in this browser for the next time I comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed. Q2 hedge fund letters, conferences and more. Odey's Special Situations Fund was up 1. As reported by Bloomberg , the U. The Pentagon has canceled the contract leaving Microsoft without exclusivity in the development of the technology of the American military and intelligence bastion. The Pentagon has established that Microsoft and Amazon are the only companies capable of responding to their requirements and will have to submit their proposals for this new project where they will be assigned different tasks.

Both Google and IBM assured Reuters on Tuesday that they were interested in working with the federal government, but did not confirm whether they would enter the bidding process. The Pentagon has priced the contract in the billions, even though it is still determining its maximum value, and expects it to last 5 years at the most, as CNBC reports. Updated on Jul 7, , am.

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