Top Midday Stories: Google to Acquire Wiz for $32 Billion; AWS Undercutting Nvidia With Cheaper Chip Offer

11:52 AM EDT, 03/18/2025 (MT Newswires) -- The major US stock indexes were down in late-morning trading Tuesday, resuming a trend after markets enjoyed a brief respite the prior two trading days.

In company news, Alphabet's (GOOG, GOOGL) Google ( GOOG ) said Tuesday it has signed a definitive agreement to acquire New York-based cloud security platform Wiz for $32 billion. Once the all-cash deal is closed, Wiz will join Google Cloud, the company said. Alphabet shares were down 3.2% around midday.

Amazon.com's ( AMZN ) Amazon Web Services is sharply undercutting Nvidia (NVDA) on price, offering cloud customers rental servers powered by its Trainium chip, which would offer the same computing power as Nivdia's H100 chip, at 25% of the cost, The Information reported Tuesday, citing a longtime AWS cloud customer. Separately, Amazon ( AMZN ) has offered advertisers incentives to shift their ad spending to its ad-buying platform and away from rival services like Google ( GOOG ) and Trade Desk ( TTD ) , The Information said, citing a media buyer and an advertising technology executive. Amazon ( AMZN ) shares were down 1.9%, while those of Trade Desk ( TTD ) were down 4.3%.

Nasdaq (NDAQ) said Tuesday it plans to open a new regional headquarters in Dallas to serve clients in Texas and the Southeast region. The company said it intends to make additional investments in Texas to improve the liquidity, transparency and integrity of the financial ecosystem. Nasdaq shares were up 0.3%.

Meta Platforms ( META ) signed a power-purchase agreement to acquire 100% of the output from RWE's Waterloo Solar project in Bastrop County, Texas, according to a joint statement. Construction of the site is set to begin in late 2025, the companies said Tuesday. Shares of Meta were 4.2% lower recently.

Apple ( AAPL ) lost an appeal to a decision that opens the company up to tighter German antitrust controls, Reuters reported Tuesday. Germany's Federal Court of Justice let stand a 2023 designation of Apple ( AAPL ) as a "company of paramount cross-market significance for competition," according to the report. Apple ( AAPL ) shares were down 0.5%.

Price: 161.27, Change: -5.30, Percent Change: -3.18

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