- Published on November 5, 2024
- In AI Trends
GenAI Boom Bleeds Users, Fills AWS, Azure, GCP’s Coffers
Amazon will spend $75 billion in 2024, focussing on infrastructure, data centres, and other resources essential for running AWS.
- By Siddharth Jindal
As we wrap up another quarter, AIM reviews how different cloud service providers have performed. In the latest quarter, Amazon Web Services (AWS) earned $27.5 billion in revenue, reporting a 19% increase from the same quarter a year ago. Microsoft’s Intelligent Cloud revenue reached $24.1 billion, a jump of 20%. Meanwhile, Google Cloud’s revenues jumped 35%, reaching $11.4 billion.
AWS continues to lead in market share with 31%, followed by Azure at 20% and Google Cloud at 12%.
At the Core of Generative AI Growth
While holding an earnings call, Microsoft CEO Satya Nadella revealed the company’s AI business is on track to surpass an annual revenue run rate of $10 billion in the next quarter. According to him, Microsoft is the fastest company in history to reach this m
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Siddharth Jindal
Siddharth is a media graduate who loves to explore tech through journalism and putting forward ideas worth pondering about in the era of artificial intelligence.
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