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The cloud computing market may finally be set to cool off

August 18, 2022

Via: TechRadar

Wider economic pessimism may finally be impacting the cloud computing market after revenue growth at all the major cloud providers slowed down in Q2 2022.

Amazon Web Services (AWS) posted sales of $19.7 billion for its second quarter, up 33% year-over-year, but with a 37% growth rate that was lower than the previous quarter.

Google Cloud brought in $6.3 billion of revenue in Q2 2022, a 35% year-on-year increase compared to Q2 2021’s $4.6 billion revenue, but much lower than the 44% jump from Q1 2021’s $4 billion to Q1 2022’s $5.8 billion.

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