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Bree Fowler / AP

Meal-kit subscription company Blue Apron has cut its estimated IPO price range by more than 34%, or from $15-$17 per share to $10-$11 per share. Were it to price in the middle of its range, that difference would cut around $1.2 billion off of its fully-diluted market value. Blue Apron's IPO is expected to price tonight, with shares to begin trading tomorrow on the New York Stock Exchange under ticker symbol APRN.

What happened? Amazon's agreement to buy Whole Foods has taken a toll on grocery stocks, and it also appears to have made some investors leery of Blue Apron. One theory is that Amazon might offer a rival meal-kit service, using Whole Foods for branding and its physical locations for packaging and/or distribution. It is worth noting, however, that Blue Apron does not mention Amazon anywhere in its revised IPO filing, including in the "risk factors" section.

Go deeper

34 mins ago - World

China and Russia vaccinate the world — for now

Illustration: Aïda Amer/Axios

While the U.S. and Europe focus on vaccinating their own populations, China and Russia are sending millions of COVID-19 vaccine doses to countries around the world.

Why it matters: China's double success in controlling its domestic outbreak and producing several viable vaccines has allowed it to focus on providing doses abroad — an effort that could help to save lives across several continents.

Ina Fried, author of Login
43 mins ago - Technology

Report: China will dominate AI unless U.S. invests more

Photo illustration: Axios Visuals. Photo: Krisztian Bocsi/Bloomberg via Getty Images

The U.S., which once had a dominant head start in artificial intelligence, now has just a few year's lead on China and risks being overtaken unless government steps in, according to a new report to Congress and the White House.

Why it matters: Former Google CEO Eric Schmidt, who chaired the committee that issued the report, tells Axios that the U.S. risks dire consequences if it fails to both invest in key technologies and fully integrate AI into the military.

Americans agree about more issues than they realize

Data: Populace Inc.; Chart: Michelle McGhee/Axios

Many Americans assume the rest of the country doesn't share their political and policy priorities — but they're often wrong, according to new polling by Populace, first seen by Axios.

Why it matters: The polling reveals that despite growing political polarization, Americans share similar long-term goals and priorities for the country.