Paul Pelosi, the husband of House Speaker Nancy Pelosi (D-CA), bought Amazon call options worth $500,000 to $1,000,000 just six weeks before the Pentagon announced it was canceling a multi-billion-dollar contract with Microsoft and starting a new one that opened a door for Amazon’s participation.
The Biden Pentagon on Tuesday announced it was canceling its multi-billion JEDI cloud services contract with Microsoft and starting a new one that Amazon could compete for. Amazon had been favored to win the JEDI contract after the idea for a single cloud infrastructure was first conceived in 2017, but it was ultimately awarded to Microsoft in 2019.
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The Pentagon said the new contract, “Joint Warfighter Cloud Capability” or JWCC, would be “multi-vendor” and “multi-cloud” and explicitly named Microsoft and Amazon as the two top contenders. During a conference call with reporters following the decision, the Pentagon’s Acting Chief Information Officer John Sherman said although it is not guaranteed, both Amazon and Microsoft will “likely” be awarded parts of the new contract.
After the announcement — which coincided with the first day of Amazon’s new CEO Andy Jassy — Amazon stock prices closed on a record high of $3,675.74, topping its previous closing record of $3,531.45 on September 2, 2020, according to MarketWatch. It was the company’s best single-day percentage gain since November 4, 2020, the day after President Joe Biden’s election, according to the report.