Microsoft's cloud business outpaced rivals Amazon and Google in the third quarter, with accelerating growth driven by demand for artificial intelligence tools.
Azure, Microsoft's cloud platform, reported 29% growth, faster than Google Cloud's 22% and more than double the pace of expansion at Amazon Web Services (AWS) at 12%.
Microsoft's leadership position in AI projects and its partnership with OpenAI have contributed to its success.
Analysts believe that Microsoft's results indicate it has taken the AI mantle from Google and that Azure could become a bigger hyperscale provider than AWS.
Oracle, a new challenger in cloud computing, reported 66% growth in the August quarter.
The cloud giants are still dealing with cost-saving initiatives from clients, which they call optimization.
Source : https://www.cnbc.com/2023/10/27/microsoft-azure-outpaced-aws-and-google-cloud-in-latest-quarter.html
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