AWS, Azure and Google Cloud Lead Q2 2025 Cloud Market Earnings Bolstered by AI Development
The Big Three cloud titans maintain their lead in the cloud market, with AI development fueling growth in the industry.
Written by Jackie Leavitt (Editor at Large)
Reviewed by Aleksander Hougen (Co-Chief Editor)
Last Updated:
Following the global earnings reports of 2025 Q2, AWS has 30% of the cloud market, followed by Azure at 20%, and Google Cloud at 13%. Other cloud computing services that take a small sliver of the pie include Alibaba Cloud at 4%, Oracle at 3%, and Salesforce, IBM Cloud and Tencent Cloud at 2% each.
For the Big Three, the second-quarter revenue for AWS was $30.9 billion, amounting to a $124 billion annual run rate; Microsoft was close behind at 29.9 billion, amounting to a $120 billion run rate; Google Cloud was $13.6 billion, with $54 billion run rate.
However, Google Cloud had the largest growth rate, with its second quarter sales representing a 32% yearly increase; Microsoft’s Intelligent Cloud group’ sales represented a 26% sales increase, followed by AWS with a 17% sales increase.
Cloud Computing Market Share, Q2 2025
Overall, global cloud infrastructure service spending grew 25% compared to Q2 2024, increasing by $20 billion. For the first time ever, cloud infrastructure services revenue is expected to exceed $400 billion annually.
John Dinsdale, chief analyst at Synergy Research Group, noted it “is a good time to be a cloud provider,” with large growth generated from AI development. “In Q2 we saw growth of 140-180% in GenAI-specific cloud services, and AI is also contributing to enhancements and added growth across the broader portfolio of cloud services.”
AI growth has certainly shaken up the industry and typical lines drawn between competitors in the market. For example, Google and Meta Platforms struck a six-year cloud computing deal valuing more than $10 billion, according to Reuters, allowing Meta to use Google Cloud’s servers, storage, networking and other services. This is Google’s second largest agreement, following its deal with OpenAI.
This Meta-Google deal will be reflected in Q3 reporting, so we anticipate even more shifts in market share following upcoming quarterly earning reports.