Azure

“All three major hyperscalers — AWS, Azure, and GCP — have reversed a multi-year deceleration trend, with YoY revenue growth rates climbing sharply from 2024 lows into 2025–2026.”

“while Azure and AWS are tracking closer to ~40–45% — still strong, but less dramatic.”

“Everyone learned from cloud where, back in the cloud days, it was like AWS or Azure being like, hey, you know, come on in, sign this three year contract. It's going to be so cheap... And then a couple of years later, when it came time to renewal, they would 10x the contract.”