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Jae C. Hong / AP

Snap's latest updated paperwork for its IPO includes this detail: The company has a $1 billion deal with Amazon for cloud services.

The details: The deal — first inked in 2016 — was updated this week to commit the company to spending more money each year with Amazon for five years, culminating in $350 in 2021. Amazon will provide Snap with "redundant infrastructure support of our business operations."

In context: Amazon isn't the only cloud provider Snap is relying on as it heads toward going public. The company also has commitments to Google worth $2 billion. That relationship is significant enough to get a mention in the company's list of risk factors for the IPO. Snap said in its filing that "disruption of or interference with our use of the Google Cloud operation would negatively affect our operations and seriously harm our business." That agreement is also notable for Google's business.

Go deeper

Caitlin Owens, author of Vitals
4 hours ago - Health

Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan

Photo: Alex Wong/Getty Images

President-elect Joe Biden has picked former FDA chief David Kessler to lead Operation Warp Speed, a day after unveiling a nearly $2 trillion pandemic relief plan that includes $400 billion for directly combatting the virus.

Why it matters: Biden's transition team said Kessler has been advising the president-elect since the beginning of the pandemic, and hopes his involvement will help accelerate vaccination, the New York Times reports. Operation Warp Speed's current director, Moncef Slaoui, will stay on as a consultant.

The case of the missing relief money

Illustration: Sarah Grillo/Axios

A chunk of stimulus payments is missing in action, thanks to a mix up that put as many as 13 million checks into invalid bank accounts.

Why it matters: The IRS (by law) was supposed to get all payments out by Friday. Now the onus could shift to Americans to claim the money on their tax refund — further delaying relief to struggling, lower-income Americans.

The post-Trump GOP, gutted

McConnell (L), McCarthy (R) and Trump. Photo: Erin Schaff-Pool/Getty Images

Republicans will emerge from the Trump era gutted financially, institutionally and structurally.

The big picture: The losses are stark and substantial.