CNBC October 27, 2023
Key Points
– Microsoft’s cloud saw accelerating growth in the third quarter, while Google’s growth rate slowed.
– Microsoft pointed to a surge in demand for artificial intelligence tools, even as some clients continue to focus on cost-saving projects.
– Amazon Web Services was the slowest grower among the three cloud leaders.
In the high-stakes cloud-computing battle, Microsoft is outpacing its top rivals.
Third-quarter results are in for most mega-cap tech companies after a big week for tech earnings. On the cloud side, Microsoft reported growth of 29% at Azure. That’s faster than Google Cloud’s 22% growth and more than double the pace of expansion at Amazon Web Services, which reported 12% growth.
While AWS still leads the pack in...
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