They can't innovate themselves, and rather than try to fix the reasons why (change in leadership, corporate structure, etc), they just buy a competitor, which they will most likely run into the ground. Perfectly reasonable!
Their area of expertise is in running large scale infra, which they have innovated a lot to get. They’re acquiring a company that has expertise in an area they're not familiar with, which needs large scale compute infra. It seems like their needs are aligned in this case.
They can't innovate themselves, and rather than try to fix the reasons why (change in leadership, corporate structure, etc), they just buy a competitor, which they will most likely run into the ground. Perfectly reasonable!