AWS has been an undisputed leader in the cloud space for more than a decade, but the market is now shifting. Since the launch of Generative AI in 2022, the competition has intensified, and other cloud service providers like Microsoft Azure and Google Cloud are gaining traction.
In the earnings call, Microsoft CEO Satya Nadella revealed that Microsoft Cloud, which includes services such as Azure, Microsoft Security, Microsoft 365, Dynamics 365, and others, surpassed $110 billion in annual revenue. Of the total revenue, Azure accounts for over 50% of the business—over $55 billion annual revenue. Azure witnessed about 23% growth in revenue from the previous quarter.
In terms of revenue growth compared to the previous quarter, Google Cloud reported a 28% increase in revenue, reaching $8.1 billion, surpassing expectations of $7.75 billion.
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