Amazon CEO says AWS staff now spending ‘much of their time’ optimizing customers’ clouds
speaks to vendors of on-prem hardware, we hear similar messages about customers quitting the cloud to save money. One analyst of our acquaintance, however, likened such reports to accounts of migration from California to other US states with higher growth rates: plenty leave and complain loudly on their way out, but plenty more arrive.
Jassy also observed that AWS’s run revenue rate is now $85 billion a year and grew 29 per cent year on year from $62 billion in 2022. That makes AWS bigger than Cisco, Lenovo, HPE, Oracle, and SAP. Of Dell’s $102 billion FY 2023 revenue, $89.4 billion was won from businesses – AWS is just $4 billion behind that sum now and closing fast.
Yet as Jassy observed, “with about 90% of Global IT spending still on-premises and yet to migrate to the cloud” AWS still has plenty of upside. His letter argues that other Amazon businesses are earlier in their development than AWS, so while the economic climate will be reflected in some wobbles that make investors feel jittery, Amazon is investing in new businesses that will fuel future growth.
Exhibit A for the prospects of that plan is AWS itself, which Amazon funded extensively during the global financial crisis of 2007 and 2008.
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