A busy week of tech earnings addressed a long-simmering question for investors: The scale of Microsoft’s Azure in the cloud wars versus market leader and pioneer Amazon Web Services. The answer is that Amazon’s AWS still rakes in quite a bit more money, but Azure gained ground over the past year thanks to its artificial intelligence prowess and partnership with ChatGPT creator OpenAI. Among the domestic cloud providers, Alphabet’s Google Cloud is the third biggest by revenue. Oracle is in a distant fourth place, though it’s growing the fastest and has played up its AI computing chops. The chart shows how all four stack up. One data note: Oracle uses a slightly different fiscal calendar, with its latest reported quarter ending in May (versus June for the other three). The Oracle cloud revenue figure is based on the company’s infrastructure-as-a-service line item. This comparison was made possible by Microsoft’s disclosure Wednesday night that Azure’s revenue surpassed $75 billion in its fiscal year 2025, the first time the company provided a look at the cloud unit’s size in dollar terms. Microsoft said Azure’s revenue grew 34% on an annual basis in that 12-month period ended in June. This suggests Azure revenue in the prior fiscal year was roughly $56 billion. Investors covet additional information to evaluate a company’s financial performance, especially in the case of Azure, a vital part of the Microsoft investment story. While still waiting on an exact Azure sales number — or, better yet, an operating income figure — Wednesday’s update is an improvement over Microsoft’s standard reporting procedure of providing only Azure’s topline growth rate each quarter. Investors have previously relied on market-share estimates from industry research firms to understand how Azure measured up versus AWS. “We continue to lead the AI infrastructure wave and took share every quarter this year,” Microsoft chief Satya Nadella said on the earnings call. “We opened new [data centers] across six continents and now have over 400 data centers across 70 regions, more than any other cloud provider.” Nevertheless, AWS — the first modern cloud service, launched in 2006, four years before Azure’s commercial debut — is still the revenue king. In the 12 months ended in June, AWS brought in $116.39 billion — a sum that includes the $30.87 billion in second-quarter revenue that the company reported Thursday night. That’s up 18% from $98.58 billion in the 12-month period ending in June 2024. Amazon’s cloud revenue lead over Microsoft is shrinking, though. Here’s the rough math, using $75 billion as Azure’s revenue number. Technically, Microsoft said revenue “surpassed” that amount, but without knowing the exact figure, we’ll use a flat $75 billion as our input. In Microsoft’s fiscal 2024, Azure’s revenue was about 57% that of AWS, at roughly $56 billion versus $98.58 billion. In fiscal 2025, it swelled to more than 64% of AWS revenue. To be sure, with the Club having a position in both companies, Azure’s recent acceleration is encouraging — and at the same time, concerns about the slowdown in AWS’s growth rate are overblown. “Azure is not going to catch them,” Jim Cramer said Friday morning, noting the boost that OpenAI provides to Azure. OpenAI’s contribution to Azure is a bit of a moving target going forward as the ChatGPT creator looks for more independence from Microsoft , a major investor and previously its exclusive computing provider. For example, OpenAI recently struck up a computing relationship with Oracle. On Amazon’s earnings call Thursday night, CEO Andy Jassy went on the offensive when asked about the competitive dynamics in cloud computing. “When we look at the results over the last number of quarters, there are sometimes where, as far as we can tell, we’re growing faster than others and sometimes others are growing faster than us,” said Jassy, who used to run AWS before leading the whole firm. ” But it’s still, if you look at second-place player you’re talking about, it’s still a pretty significant … market-segment leadership position that we have. And regardless, these are all really just moments in time. The last week is a moment in time too, where the reality of what really matters is what customers’ experiences are in operating on these platforms. And if you look at what matters to customers, what they care – they care a lot about what the operational performance is, what the availability is, what the durability is, what the latency and throughput is of the various services. And I think we have a pretty significant advantage in that area. They care a lot about security, if you have data that matters and for most companies, they’re putting data that they really care about in the cloud. The security and the privacy of that data matters a lot, and there are very different results in security in AWS than you’ll see in other players.” For its part, Azure’s revenue scale versus Google Cloud held relatively constant in the same periods. Google Cloud’s revenue has been about two-thirds as much as Azure in both Microsoft’s fiscal 2024 and 2025. Google Cloud gained a little bit of ground on AWS in the 12 months ended in June, coming in at about 42% of its revenue versus 38% in the prior comparison window. (Jim Cramer’s Charitable Trust is long AMZN and MSFT. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. 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