Microsoft Falls on Report of Judge’s Halt to JEDI Cloud Contract
(Bloomberg) -- Microsoft Corp. shares fell after a judge temporarily blocked its contract to perform cloud-computing services for the U.S. Department of Defense.
Amazon.com Inc., the leading public cloud provider, has protested the award of the Pentagon’s Joint Enterprise Defense Infrastructure, or JEDI, cloud contact that may be worth as much as $10 billion over a decade.
A judge in the U.S. Court of Federal Claims ordered Thursday a temporary block on the contract in response to Amazon’s lawsuit. CNBC reported on the ruling earlier. Microsoft shares fell as much as 1% to a low of $182.87 after the report. Amazon shares, which had been in negative territory, rose less than 1%.
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