Pentagon's $10 Billion Cloud Deal Latest Trump Move Reversed By Biden

The contract awarded by the Pentagon in late 2019 has been on hold after Amazon filed a lawsuit challenging the decision under then-President Donald Trump.

The U.S. Defense Department canceled its $10 billion JEDI cloud-computing project on Tuesday, reversing the Trump-era award to Microsoft Corp and announcing a new contract expected to include its big tech rival Amazon.com. The contract awarded by the Pentagon in late 2019 has been on hold after Amazon filed a lawsuit challenging the decision under then-President Donald Trump. Trump publicly derided then-Amazon CEO Jeff Bezos and repeatedly criticized the company. Shares of Microsoft and Amazon both closed at a record high with the online retailer up 4.7% and shares of the software firm a penny higher.