Cloud Services
Neoclouds Ride The AI Wave
In Q1 2026, CoreWeave revenue hit $2.08B, Nebius $399M, and IREN (AI Cloud Services) $33.64M. All three grew revenue at triple-digit rates year-over-year.
Cloud Services
AI Demand Swells Cloud Backlogs
In Q1 2026, combined cloud backlog (RPO) at Microsoft, Alphabet, and Amazon hit $1.46T. Microsoft hit $633B, Google $468B, and Amazon $364B.
Cloud Services
AI Demand Shows In Cloud Growth
Cloud is the fastest-growing segment for the Big Three providers. In Q1 2026, cloud grew 63.36% at Alphabet, 29.64% at Microsoft, and 28.43% at Amazon.
Cloud Services
Cloud-Weighted Revenue Rises
In Q1 2026, cloud made up 41.84% of Microsoft revenue, 20.71% of Amazon's, and 18.22% of Alphabet's. All three have become more cloud-weighted YoY.
Cloud Services
Cloud Revenue Rises To $92B
In Q1 2026, combined cloud revenue at Amazon, Microsoft, and Alphabet hit $92.3B. The Big Three added $24B in revenue year-over-year – or 35%.