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Cloud leaders Amazon, Google and Microsoft show the once-booming market is cooling down

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Companies looked for ways to save money on their cloud bills in the fourth quarter, a trend that could persist for at least the first half of 2023.

, customers are showing less confidence in longer-term deals. Amazon reported $110.4 billion in commitments on contracts with original terms longer than one year. That was up 37% from a prior year, a decline from 57% growth in the third quarter.

"We see LT cloud trajectory as bent and not broken," wrote the analysts, who have a buy rating on the stock. Microsoft CEO Satya Nadella speaks at the company's Ignite Spotlight event in Seoul on Nov. 15, 2022.Microsoft said its Azure and other cloud services revenue growthOn the earnings call, Chief Financial Officer Amy Hood said growth in Azure consumption moderated in December. The company expects

 

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Strong hiring in services which keeps up inflation. Fed has to cause a recession to reach services. Hikes already affected goods but doesnt affect services. Recession slows down services spending. But snowball effect will cause an unemployment crisis & deep recession. AI lurking

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