According to CRN, Microsoft, Amazon Web Services and Google Cloud collectively generated $79 billion in total cloud revenue during the third quarter of 2025. All three tech giants reported their Q3 2025 financial results last week, with cloud sales continuing their impressive growth trajectory. The earnings are primarily based on sales from each company’s major platforms: Google Cloud Platform, Microsoft Azure, and AWS Cloud. Microsoft doesn’t disclose exact Azure revenue figures, instead including them in its Intelligent Cloud group alongside server products and other cloud services. All three providers have heavily injected AI capabilities into their platforms over recent years, meaning much of this cloud revenue includes AI product sales.
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AI Is Driving Everything Now
Here’s the thing about that $79 billion number – it’s not just traditional cloud infrastructure anymore. We’re talking about AI services becoming the growth engine for all three providers. Microsoft CEO Satya Nadella, Amazon’s Andy Jassy, and Google’s Sundar Pichai all emphasized AI’s role in their earnings remarks. Basically, if you’re not buying AI capabilities, you’re probably not spending big in the cloud right now. And enterprises clearly are spending big.
Microsoft’s Opaque Numbers Game
It’s fascinating that Microsoft still doesn’t break out Azure revenue specifically. They bundle it into the Intelligent Cloud segment, which makes direct comparisons tricky. But let’s be real – everyone knows Azure is the star of that show. The fact that they can keep those numbers somewhat hidden while still convincing investors they’re winning speaks volumes about their market position. They’re playing a different game than AWS and Google Cloud, who are more transparent with their cloud-specific numbers.
Three-Horse Race Intensifies
So what does this tell us about the cloud competition? We’re seeing a market that’s still growing fast enough for all three to win, but the pressure is mounting. AWS might still be the revenue leader, but Microsoft’s enterprise relationships and Google’s AI research advantages create interesting dynamics. The real question is whether this growth rate can continue as AI becomes table stakes rather than a differentiator. I think we’re going to see even more aggressive pricing and bundling strategies as these giants fight for every dollar of that enterprise IT budget.
The Enterprise Spending Shift
Look, when you see numbers this big quarter after quarter, it’s clear that cloud migration isn’t slowing down – it’s accelerating. Companies aren’t just moving existing workloads anymore; they’re building net-new applications in the cloud, often with AI capabilities baked in from day one. The hyperscalers have become the default platform for digital transformation, and that’s not changing anytime soon. But the interesting part will be watching how much margin pressure emerges as they compete on price while investing billions in AI infrastructure.
