Microsoft Trades Higher On $10B Cloud Computing Deal With Pentagon

Microsoft Corporation 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.

Amazon.com, Inc. 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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