Microsoft, Amazon and Google “Will Beat Their Numbers” as a $2 Trillion Cloud Backlog Builds

Key TakeawaysBloomberg Intelligence’s Mandeep Singh says Microsoft, Amazon, Alphabet and Oracle hold a combined backlog of $2 trillion, and that the first three will beat consensus as their clouds speed up over the next three or four quarters. The clouds can only grow as fast as new capacity comes online, so this spending has revenue to show for it in a way Meta’s doesn’t.