Benzinga | Dec 23, 2021 02:03PM EST

FTC Advances Antitrust Probe Into Amazon Web Services: Report

* The U.S. Federal Trade Commission (FTC) is advancing an antitrust probe into Amazon.com Inc's (NASDAQ:AMZN) cloud computing business, Bloomberg reported on December 22.

* FTC officials contacted companies in the past few months to gather information about competition issues related to Amazon Web Services (AWS), the report noted, citing people familiar with the matter.

* Related Content: Amazon Seeks Immunity From Big Tech Critic FTC Chair Lina Khan In Antitrust Investigations: WSJ

* The FTC undertook the probe as part of an investigation begun during the Trump administration.

* The FTC looks to investigate whether Amazon has an incentive to discriminate against software companies that sell their products to clients of AWS while at the same time competing with Amazon.

* Price Action: AMZN shares traded higher by 0.27% at $3,430.78 on the last check Thursday.