Google’s cloud business, which includes infrastructure and software subscriptions, grew 35% annually to $11.35 billion at the end of the 3rd quarter. A year ago the dynamics in this direction was 29%. Google Cloud showed the fastest development among competitors.

Maintaining its market leadership, Amazon Web Services grew 19% to $27.45 billion; This is a division twice the size of Google Cloud but growing at half the rate. Ranking second, Microsoft’s revenue from Azure and other cloud services increased by 33% compared to the previous year. This week, five of the six “trillionaire” tech companies, excluding Nvidia, reported financial results. Near-simultaneous reports from Amazon, Alphabet and Microsoft help investors assess how the cloud wars are progressing.

Alphabet has traditionally relied on digital advertising, but it no longer provides an excuse to call itself “lazy”; Analysts say Google Cloud’s rapid growth shows that the company’s revenues are diversifying. Last year, the direction turned a profit for the first time, and according to third quarter 2024 results, its operating margin was 17%. AWS’s operating margin during the same period was 38%, a figure that analysts described as tremendous. At the beginning of the year, Amazon extended the service life of servers from five to six years, which helped it increase operating margins by two percentage points. This year, Microsoft distinguished Azure from other products in its report; AI services have helped drive significant growth in the cloud direction. Demand for the company’s services exceeds available capacity — Azure’s growth slowed slightly in the quarter, but promises to reach higher levels in the first half of 2025.

Amazon also admitted that demand exceeds available capacity; The company uses not only Nvidia accelerators but also its own Trainium 2, which customers are interested in. Google is currently working on sixth-generation TPU accelerators; Microsoft introduced its own Maia chips at the end of last year, but they are still used for the company’s own services and are not available for rental to customers.

America’s fourth-largest player, Oracle, won’t report its quarterly report until December. Last year, the company reported that revenue from cloud infrastructure increased by 45% to $2.2 billion; Before the quarter, this growth was 42%. Oracle has also signed partnership agreements with larger rivals that will give them access to databases on their platforms, which promises to be a factor in the growth of its business.