For cloud giants, usage soars but tech investment delays hobble revenue growth [Reuters]
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Source: Reuters
For cloud giants, usage soars but tech investment delays hobble revenue growth (Reuters) - As lockdown orders force billions of people to work, learn and play from home during the novel coronavirus outbreak, usage has surged for the cloud computing services that power video conferencing, streaming television and online games. The world’s three leading cloud services providers - Amazon.com Inc’s ( AMZN.O ) Amazon Web Services, Microsoft Corp’s ( MSFT.O ) Azure and Alphabet Inc’s ( GOOGL.O ) Google Cloud - have all seen demand for their services jump. In particular, peak daily usage for Google’s Meet videoconferencing tool has shot up 30-fold since January while the number of daily users for Microsoft’s Teams chat system has more than doubled to 75 million since early March. But at the same time, the companies have seen a drop-off in new contracts from big clients for server storage and to overhaul technology, company executives and analysts said this week. The massive, multi-year
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