CME Group announced a 10-year-partnership with Google Cloud this morning, with Google saying it would also invest $1 billion in the exchange giant — currently the world’s most valuable. Fortune reports: Prima facie, it’s an odd deal: A search giant is investing in a financial services company that had its start well over a century ago. Despite the age difference, what is perhaps more surprising is that this kind of a deal — investing in a customer — within the cloud giants is not that rare. Microsoft for instance invested in the $2 billion funding round of autonomous car company, Cruise, becoming an investor and a vendor for the startup’s cloud needs. […] And now, with the CME deal, Google seems intent on honing in on the financial services industry, which has historically shied away from cloud migration over regulatory and privacy concerns. In an interview with the Wall Street Journal (paywalled), Google Cloud CEO Thomas Kurian called the investment “a reflection of our commitment to the transformation of the financial system, not just to one company’s infrastructure.”
of this story at Slashdot.
Source:: Slashdot