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Microsoft Corporation (NASDAQ:MSFT) shares are trading higher following confirmation the company has won $10 billion cloud computing contract from the Pentagon.
The Joint Enterprise Defense Infrastructure Cloud (JEDI) contract will modernization the Pentagon and is meant to make its technology agile. The goal of JEDI is to give the military better access to data and the cloud from battlefields and other remote locations, reports Reuters.
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Amazon.com, Inc. (NASDAQ:AMZN) had also been in the running for the JEDI contract.
Microsoft shares traded higher by 2.6% at $144.41 at time of publication. The stock has a 52-week high of $142.37 and a 52-week low of $93.96.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.