Today in the Connected Economy: Amazon Web Services Could Have $3T Future

Today in the connected economy, a new projection says Amazon’s cloud computing business could someday be worth three times as much as the entire company’s current value. Plus, Walmart acquires California tech company Memomi following a test of its virtual optical try-on technology, while Siemens and Nvidia team up to help businesses launch projects inside the metaverse.

Analyst: Amazon Cloud Unit Could Hit $3T in Value

Amazon’s cloud-storage unit Amazon Web Services (AWS) could reach a $3 trillion value, nearly triple the market value of the entire company. That’s according to analyst Alex Haissl of Redburn, who said AWS has grown so powerful that Amazon could someday spin it off from its retail operations.

Walmart Adds Digital Eyeglass Fitting Company to Stable of AR Try-on Tools

Following a three-year test in more than 3,300 stores, Walmart is acquiring California tech company Memomi to bring its virtual optical try-on technology in-house. The company said the deal both lets it continue a popular shopping feature and underscores its commitment to frictionless, omnichannel eyecare.

Siemens, Nvidia Team up for Industrial Metaverse

German engineering and technology firm Siemens is working with chip maker Nvidia to launch a metaverse where companies can speed new production designs while reducing the cost of running physical operations. The collaboration is the center of Siemens Xcelerator, the company’s new open, cloud-based digital platform, aimed at growing the firm’s digital business.

Napster Plans Web3-Focused Comeback With NFTs

Napster, the free music-file sharing service that helped flip the recording industry on its head before being litigated away, said it is making a non-fungible token (NFT)-related comeback. This time, Napster will build itself around NFTs and cryptocurrencies in a venture led by Hivemind Capital Partners, a crypto firm run by former Citigroup executive Matt Zhang. Napster will reportedly use $NAPSTER tokens issued using the Algorand blockchain protocol, which will allow artists to offer holders curated music and experiences.

Amazon Will Gather and Sell Physical Store Analytics Data to Brands

Amazon hopes to capitalize on its budding basket of physical stores by offering brands data on what customers in its contactless locations touch, purchase, decline to purchase and more. The eCommerce giant said the new analytics offering will give brands a dashboard of detailed but anonymous data that will show “how their products are discovered, considered and purchased” at about 50 Amazon Fresh and Amazon Go locations.