Apple Inc. & Amazon — Amazon Web Services

Apple Inc.: Apple Inc. reported stronger-than-expected profit and revenue, leading to a rally in its stock and contributing to new records for the S&P 500 and Nasdaq composite.

Amazon — Amazon Web Services: Amazon — Amazon Web Services has secured a deal with the Pentagon to integrate its artificial intelligence into classified computer networks for military use.

Apple Inc.: Apple Inc. is expected to partner with Alphabet Inc. to power its artificial intelligence features, including upgrades to Siri, which would significantly expand Google's reach across a vast global device base.

Amazon — Amazon Web Services: Amazon — Amazon Web Services, a competitor to Alphabet Inc. — Google Cloud Platform, also reported increased revenue, but its stock price dropped after earnings, indicating a mixed signal on growth compared to Alphabet Inc.'s strong performance.

Amazon — Amazon Web Services: Amazon — Amazon Web Services (AWS) established the China — Shanghai lab in 2018 and is the unit undergoing layoffs and strategic adjustments that led to the lab's closure.

Amazon — Amazon Web Services: Amazon — Amazon Web Services experienced drone strikes on three of its data centers in the Middle East, highlighting the vulnerability of cloud infrastructure to physical disasters.