Google Cloud revenue showed a +63% y/y growth this past quarter. Microsoft Intelligence Cloud revenue showed a +30% y/y…

SemiAnalysis Twitter · SemiAnalysis (@SemiAnalysis_) · 2026-06-03

SemiAnalysis highlights that Google Cloud led major cloud providers with 63% year-over-year revenue growth last quarter versus Microsoft Intelligent Cloud at 30% and AWS at 28%, while AWS diverged by posting the strongest margin expansion at +213 basis points quarter-over-quarter.

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Topics: cloud-revenuehyperscaler-competitiongoogle-cloudawsmicrosoft-azure

Claims

Google Cloud achieved 63% year-over-year revenue growth in the most recent quarter, the fastest among major cloud providers.
Microsoft Intelligent Cloud grew 30% year-over-year in the same period.
AWS grew 28% year-over-year but expanded operating margins by 213 basis points quarter-over-quarter, outpacing Google Cloud and Microsoft on profitability improvement.
Revenue growth leadership and margin expansion leadership diverged sharply among the three major cloud providers.

Key quotes

Google Cloud revenue showed a +63% y/y growth this past quarter. Microsoft Intelligence Cloud revenue showed a +30% y/y growth this past quarter. AWS revenue showed a +28% y/y growth. Despite this, AWS' margins increased 213bps q/q while the other CSPs lagged behind.