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Amazon wins U.S. Defense Department contract worth potentially $10 billion

After locking horns with Amazon in a bid for a lucrative U.S. Defense Department contract, Microsoft has emerged victorious on Friday, landing a deal that could net the computer giant as much as $10 billion over the next 10 years.

Word of the deal, announced by the Pentagon late in the afternoon, didn’t take long to spread.

Microsoft stock shot up three percent in extended trading, while Amazon — which had been widely thought to be the favored candidate — saw its stock take a one percent dip.

The contract calls for Microsoft to provide cloud resources for the Defensive Department — an area previously dominated by Amazon.

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