Cloud revenue accelerates 21% to $76 billion for the latest earnings cycle [TechCrunch]
Amazon.com, Inc. (AMZN)
Last amazon.com, inc. earnings: 4/30 04:01 pm
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Source: TechCrunch
can finally relax: The cloud was back with a vengeance this quarter. The market as a whole was up a healthy $13.5 billion to $76 billion, up 21% over the first quarter in 2023, per Synergy Research. That's healthy growth by any measure. If you're wondering what's driving the growth, you probably guessed that it's related to generative AI and the copious amount of data required to build the underlying models. Whether it's Microsoft's close links to OpenAI, Google Cloud making a slew of AI announcements at its recent customer conference or Amazon's infrastructure managing the data side of the equation, AI is driving lots of business for these vendors. “There is a symbiotic relationship between the rapid advancement and adoption of AI and the scalable ‘Big 3' cloud infrastructure providers,” said Rudina Seseri, founder and managing partner at Glasswing Ventures, a firm that invests heavily in AI startups. “AI actually makes the cloud providers more valuable. By creating more capabi
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AMZN
Earnings
- 4/30/24 - Beat
AMZN
Sec Filings
- 5/21/24 - Form 144
- 5/20/24 - Form PX14A6G
- 5/17/24 - Form 4
- AMZN's page on the SEC website