Google Cloud, AWS Backlogs Reach $1.14 Trillion Amid Goldman Split

Goldman Sachs strategists Mark Wilson and Tony Pasquariello disagree over whether $1.14 trillion in cloud backlogs shows AI returns taking shape or masks a slowdown in broader earnings growth. Google Cloud revenue increased 103% year over year, and its backlog climbed 256% to $561 billion. Amazon Web Services revenue grew 39%, while its backlog rose 189% to $578 billion. The two providers' backlogs total about $1.14 trillion. Mark Wilson argues that the cloud growth and backlog figures show AI demand remains strong and that returns are beginning to materialize at large cloud providers.

Source: TokenPost