Key Points
All the major public cloud service providers reported top-line growth last quarter, reflecting still-growing demand for AI infrastructure.
Google Cloud, however, is gaining market share at the expense of its top competitors.
If and when the AI spending frenzy finally cools off, Alphabet’s offerings may prove to be the most marketable.
With revenue growth of nearly 37% and a year-over-year improvement in operating income of more than 63%, there’s no denying Amazon‘s (NASDAQ: AMZN) cloud computing arm experienced a fantastic second quarter. Shareholders have every reason to be happy.
Alphabet(NASDAQ: GOOG) (NASDAQ: GOOGL) investors, however, have even more reason to celebrate. The company’s Google Cloud business grew its top line by nearly 82%, resulting in operating income growth of over 200%.
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