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This article discusses the third-quarter results of major tech companies, with a focus on the cloud side. Microsoft reported growth of 29% at Azure, faster than Google Cloud’s 22% growth and more than double the pace of expansion at Amazon Web Services, which reported 12% growth. Microsoft’s growth was attributed to companies wanting to run their AI models on Azure, and 3 percentage points of Azure’s growth was tied to AI. Alphabet CEO Sundar Pichai noted that more than half of all funded generative AI start-ups are Google cloud customers, while Amazon’s CEO Andy Jassy said the company has been surprised at the pace of growth in generative AI.
