Big 3 Cloud Providers Continue To Outperform As AI Drives Growth
ITProToday, Friday, February 2nd, 2024
AWS, Microsoft, and Google continue to point toward AI as a driver of growth, but there is more to cloud gains, including security and partnerships.
There just seems to be no end in sight for the growth of the public cloud.
The big three public cloud providers - Microsoft Azure, Google Cloud Platform, and Amazon Web Services (AWS) - all reported their most recent financial earnings this week, once again highlighting big gains in cloud computing revenues, ostensibly driven by the juggernaut of demand coming from artificial intelligence (AI).
Google's parent company Alphabet reported its fourth-quarter fiscal 2023 earnings on Jan. 30, with cloud computing revenue rising 25% to $9.19 billion. That same day, Microsoft reported its second-quarter fiscal 2024 earnings, with Microsoft Cloud revenue of $33.7 billion, up 24%. The final member of the big three - Amazon - reported revenue on Feb 1, with AWS posting $24.20 billion in revenue in the quarter for a 13% year-over-year gain.