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Illustration: Lazaro Gamio/Axios

Microsoft secured a $10 billion cloud computing contract from the Pentagon on Friday, CNBC reports, beating competitors like Amazon to a lucrative 10-year contract.

Why it matters, via Axios' Ina Fried: This giant deal has been a hard fought battle, as Oracle and IBM previously held hopes they could win the cloud computing prize.

Background: A dozen GOP members of Congress sent President Trump a letter in July urging him to delay the Pentagon's plan to award its Joint Enterprise Defense Infrastructure contract to a single company.

Our thought bubble, via Axios' Scott Rosenberg: The president's outspoken criticism of Amazon and its founder put the Pentagon in a tough place however the choice came down. If the government went with Amazon, it might have raised Trump's ire, but now that it is rejecting the company, it will inevitably be accused of politicizing the choice.

What they're saying:

“We’re surprised about this conclusion. AWS is the clear leader in cloud computing, and a detailed assessment purely on the comparative offerings clearly lead to a different conclusion. We remain deeply committed to continuing to innovate for the new digital battlefield where security, efficiency, resiliency, and scalability of resources can be the difference between success and failure.”
— Amazon Web Services statement to Axios

Go deeper:

Go deeper

Dan Primack, author of Pro Rata
1 hour ago - Politics & Policy

Biden starts negotiating to raise capital gains tax rate

Illustration: Aïda Amer/Axios

President Biden wants to nearly double the capital gains tax paid by wealthy Americans, as first reported yesterday by Bloomberg and confirmed by Axios.

Counterintuitive: Biden's plan is better for private fund managers (hedge, PE, VC, etc.) than what he proposed during the campaign.

Scoop: Caitlyn Jenner makes it official for California governor

Caitlyn Jenner. Photo: Paul Archuleta/Getty Images

Former Olympic decathlete and reality TV star Caitlyn Jenner has filed her initial paperwork to run for governor of California and will officially announce her bid later today, her campaign tells Axios.

The big picture: Jenner, a longtime Republican, is seeking to replace Democratic Gov. Gavin Newsom in a recall election, hoping her celebrity status and name recognition can yield an upset in the nation's most populous state.

Kendall Baker, author of Sports
2 hours ago - Sports

New laws, new rules bring big changes to college sports

Illustration: Sarah Grillo/Axios

The college sports landscape could change more in the next six months than it has in the last 50 years, as the NCAA grapples with new competition, new laws and new rules.

How it works... 1. Startup leagues: Investors are flocking to new leagues that aim to compete with the NCAA, evidence of just how much opposition there is to the amateurism model — and how much belief there is in new ones.