What is Cloud Computing?
Cloud computing is dominated by three hyperscalers: Amazon AWS (~30% global share), Microsoft Azure (~25%), and Google Cloud (~12%). Plus specialty (Oracle Cloud, IBM Cloud, Alibaba Cloud, Tencent Cloud). Services span IaaS (raw compute/storage), PaaS (platforms), and SaaS (applications). Generative AI has driven a massive new wave of cloud spending on GPU capacity.
Why it matters for investors
Cloud is among the largest sources of profit growth at Microsoft, Amazon, and Alphabet โ collectively a multi-trillion-dollar business. Enterprise IT migration to cloud is a multi-decade trend with significant runway. AI workloads are now the fastest-growing segment.