WSJ ($) - (November 1, 2024) - Microsoft, Google and Amazon report strong growth in cloud revenue, but warn of increased spending
Some of the world’s biggest tech companies showed this week how the tens of billions of dollars they have bet on the artificial intelligence boom are starting to pay off. They also warned bigger investments are coming.
Revenue from cloud businesses at Amazon, Microsoft and Google reached a total of $62.9 billion last quarter. That figure is up 22.2% from the same period last year and marked at least the fourth straight quarter in which their combined growth rate has increased.
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