Cloud revenue growth this quarter has been INSANE.
$NBIS went from $105M in revenue a year ago to $582M this quarter. (+454% YoY)
Adjusted EBITDA flipped with it, negative $21M last year to positive $236M now.
$CRWV did $2.58B with $1.5B of adjusted EBITDA.
None of this should surprise anyone who listened to the hyperscaler calls last month.
$GOOGL Cloud grew 82% to about $25B. $MSFT Azure grew 43% and crossed $100B for the fiscal year. $AMZN has AWS running near $169B annualized and their AI and chips businesses each cleared $25B, both more than doubling.
Four largest cloud businesses in the world and all of them are speeding up.
The overflow goes to whoever has capacity. Right now that is $NBIS and $CRWV.