Microsoft became the second American company to be valued at over $2 trillion after Apple. Microsoft saw a growth of 1.2% in its shares in the New York Stock Exchange on Tuesday. Saudi Aramco closely follows them at a market value is $1.9 tril. Microsoft has outperformed Apple and Amazon with a growth of 19% this year. The tech giant went from $1 tril in 2019 to $2 tril in 2021. American companies next in line are Amazon at $1.8 tril and Alphabet at $1.6 tril.
Vodafone partnered with AWS for providing Edge computing services to customers in the UK. The telco offers a unique service with the combination 5G and edge computing, having latency as low as 10 milliseconds. Low-latency Edge computing service will be initially provided to customers of London and surrounding cities of Oxford, Cambridge, Bristol, and Cardiff. Scotland and the northern regions of the UK will get this service by 2022.
Telangana, despite the pandemic, showed a growth of 13% in its IT and ITeS exports at Rs. 1.45 lakh cr in FY21. The annual report for the IT, electronics, and communications department showed an addition of 46,489 jobs, taking the total number of IT/ITES employees to 6,28,615, which is a YoY increase of 7.99% compared to FY19. Amazon has set up three data centers in Telangana last year with a $2.77 bn investment.
American tech giants Amazon is planning to invest around 2.5bn euros ($3bn) in new data centers opening in mid-2022 in Spain. AWS will be investing this sum over a period of 10 years. The investment will cover the capital expenditure, the construction of the centers, imports of equipment, and the salaries of the 1,300 employees to be hired for the operations. AWS has been trying to build infrastructure in Spain since 2012 to be able to host data in Spain.
Websites all over the world, after being affected by the outage of Fastly Inc., came back online on Tuesday. Popular websites like Reddit, Amazon, CNN, Paypal, Spotify, Al Jazeera Media Network, and the New York Times were all in the list of sites hit by the outages that lasted for a few minutes to an hour. Fastlys website said, most of its covered areas faced degraded performance. The UK’s main gov.uk website was also down.
Amazon, Google, and Visa, separately, are trying to acquire a stake in Bengaluru-based neo-banking startup Open. Open’s valuation, post-deal, will multiple three times to hit $600-700 mn. Open’s growth, in the last 18 months, has jumped ten times. The start-up offers business banking, payments, and expense management services to over a million SMEes. It is, at present, valued at $100-$120 mn and claims to have processed $24 bn in transactions annually.
Cloud-based analytics company Cloudera Inc private will be acquired by equity firms KKR and CD&R for $4.7 bn. As the demand for cloud-based services has grown, tech giants like Google, Amazon are looking to provide services like Cloudera. The largest investor of Cloudera is activist investor Carl Icahn who holds about 17.8% of Cloudera’s total shares. The deal is to be completed in the latter half of the year with a 30-days “go-shop period”.
Tata sons via Tata Digital have got their hands on a 64.3% stake in Alibaba-backed online grocery store, BigBasket. In March, India’s antitrust body approved the stake acquisition which came to fruition this month. The deal is said to be worth Rs 95 bn, which will buy out Alibaba’s stake in the e-grocer. Tata group is now a direct competitor to Amazon, Walmart, and Reliance. Tata Digital plans to launch its super app in 2022, with all facilities on a single platform.