Microsoft snags hotly contested $10 billion defense contract, beating out Amazon

PUBLISHED FRI, OCT 25 20196:58 PM EDTUPDATED SAT, OCT 26 20197:55 PM EDT

Jordan Novet @JORDANNOVET

KEY POINTS

The JEDI contract is worth up to $10 billion over 10 years.
IBM and Oracle are among the companies that also sought the contract but ended up getting ruled out.
Amazon has been a repeated target for President Trump, who announced in July that

Microsoft CEO Satya Nadella speaks at the Digital-Life-Design conference in Munich, Germany, on January 16, 2017.

Tobias Hase | dpa | Getty Images

Microsoft has emerged victorious in a dramatic competition for public cloud resources for the U.S. Defense Department, beating out market leader Amazon Web Services, the Pentagon said on Friday. The contract could be worth as much as $10 billion over a decade, according to a statement.

Microsoft stock rose as much as 3% in extended trading after the

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