Key Points
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All the major public cloud service providers reported top-line growth last quarter, reflecting still-growing demand for AI infrastructure.
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Google Cloud, however, is gaining market share at the expense of its top competitors.
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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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