This Cloud Wars Minute showcases the Cloud Confidence Index, which gives insight into how business leaders are feeling about the potential for cloud company growth.
Highlights
00:10 — One of the ways I analyze the greatest growth market the world has ever known is through the Cloud Confidence Index, which is updated every several weeks.
00:44 — The latest figure for the Cloud Wars Top 10 is a total market cap for the 10 companies of $6.5 trillion. We’re up slightly over the last analysis I did, which was June 20 (about seven weeks ago). Microsoft was off 7% to $2.41 trillion. Google was up 5%, $1.66 trillion. We had Amazon up 6% to $1.42 trillion.
01:23 — We have Oracle off more than 9% at $307 billion. SAP was up 3.6%, to $160.8 billion. ServiceNow’s market cap fell 2.6% to $112 billion. Workday, one of the companies with earnings coming up shortly, up 1.7% at $59 billion. Salesforce was off about two and a half points to $201 billion. IBM, up 4%, was $130 billion. And Snowflake fell from $60 billion to $50 billion, that’s almost a 17% decline.
02:16 — It’s fascinating to look at the volume of investment in these companies and their reach, wealth, and capabilities because they are reshaping the world in so many ways. This market cap serves as a proxy for the public and business leaders’ confidence in these companies to keep growing [and] as a reflection of business leaders’ appetite for new technology, the Generative AI phenomenon that’s taking place now.
