Highlights
1:21 – Recent revaluation has the market in flux. Legacy companies IBM and SAP fell the least by percentage, while companies like Amazon and Snowflake fell the furthest.
2:26 – The Cloud Wars top 10 companies still have a combined valuation of more than $5.1 trillion, even after the market drop.
3:02 – Despite valuation changes, there remains bullishness and promise for what these major cloud vendors provide. In Q1 earnings calls from Microsoft, ServiceNow, IBM, SAP and others, it’s evident that CEOs no longer see IT purchases as a luxury. Instead, they represent a crucial component of their core business.
4:00 – The total market cap for the Cloud Wars top 10 shows confidence and belief in the power of the cloud to help businesses in every industry become more capable, agile, and growth-oriented in the digital economy.
