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In today’s Cloud Wars Minute, I break down the recent 12.5% surge in the Cloud and AI Confidence Index.
Highlights
00:19 — The Cloud and AI Confidence Index reflects how the buying and investment public feels the Cloud Wars Top 10 companies are doing. The last Cloud and AI Confidence Index was in February. Over that five-month period, the Cloud AI Confidence Index has jumped 12.5% to $8.7 trillion.
01:27 — These are ranked not by their performance here on the index, but by where they sit on the Cloud Wars Top 10. Number one, Microsoft. Microsoft’s market cap is now $3.27 trillion. Over the past five months, that market cap has gone up by $270 billion. But because Microsoft’s market cap was already $3 trillion, that’s only a 9% increase. I say “only” with a lot of irony.
02:11 — Google: $2.24 trillion market cap. That’s a 28% jump in market cap for Google, and, technically, its parent, Alphabet. Number three is Oracle. It’s been red hot with its cloud infrastructure business. Its market cap is now $385 billion, up 26%. It’s gained $79 billion in market cap over the last five months.
03:05 — Amazon, number four on the Cloud Wars Top 10, has a $1.94 trillion market cap. SAP is just under $246 billion. That’s up 19%, gaining $38.6 billion in market cap. This stock is at an all-time high. ServiceNow, which has generally been quite a high flyer, is at $153.2 billion, relatively flat, down just a little bit from five months ago. It’s down 2.2%, or $3.6 billion in market cap.
04:00 — Workday’s market cap fell from almost $80 billion to $61.1 billion, down 23%, largely due to comments from CEO Carl Eschenbach during the earnings call. Not that long ago, Salesforce’s market cap was $300 billion. It’s now $242.6 billion. That’s off $38.6 billion, down 13.5%. IBM is up slightly to $173.5 billion, and Snowflake is still cratering in its market cap.
05:02 — So, cumulatively, as I said, that adds up to $8.7 trillion. It’s a staggering number. And I hope the Cloud and AI Confidence Index serves as a proxy for the level of confidence that business customers have in these companies, as well as investors.
