The U.S. Federal Trade Commission is preparing to launch an investigation into anti-competitive practices at Microsoft's cloud computing business, sources familiar with the matter told Reuters on Thursday.

Microsoft's (NASDAQ:MSFT) cloud computing business is likely to be investigated by the U.S. Federal Trade Commission for anti-competitive practices, the Financial Times reported. Shares of the tech giant rose 0.

A change of leadership at the U.S. Federal Trade Commission, a central part of the Biden administration's pro-consumer agenda and a lightning rod for corporate criticism, will likely take months under the Trump administration.

Chair Federal Trade Commission Lina Khan shakes hands with U.S. Rep. Matt Gaetz, R-FL during a break before the House Judiciary Committee in a hearing on "Oversight of the Federal Trade Commission (FTC) on Capitol Hill in Washington,

Lina Khan has been hailed by liberal Democrats and even some Republicans as a historic change agent as chair of the Federal Trade Commission, laying out a far-reaching doctrine for checking corporate power and calling out some of Silicon Valley’s biggest companies as alleged monopolists.