As the AI Era kicks into full swing, the Cloud Confidence Index rose 6.1% over the past month as the combined market caps of the Cloud Wars Top 10 companies rose by $310 billion over that time.
To give you a sense of some very big numbers that go into this index, the combined market caps of the Cloud Wars Top 10 on March 24 totaled $5.28 trillion, which is 6.1% higher than the parallel figure of $4.97 trillion as of Feb. 20.
Amid all the upheaval in the global economy over the past 18 months, the enterprise-cloud business has stayed remarkably strong, and I’ve created the Cloud Confidence Index as a way to analyze the ongoing commitment to the cloud from business customers across the globe.
Leading the way were Google Cloud parent Alphabet, which jumped 11.6% to $1.35 trillion (that’s an increase of $140 billion), and Microsoft, which rose 7.9% to $2.07 trillion, which represents an increase of $150 billion.
Both are and will continue to be major players in the rapidly unfolding AI Era, which in the past few months has grabbed the attention of billions of people across the globe with the amazing capabilities of generative AI.
Beyond those fancy displays, however, we’re also seeing AI and ML become mainstream business tools in everything from applications to analytics to cloud infrastructure to cybersecurity. And the ability of the cloud to continue to be the perfect delivery vehicle for the awesome powers of AI is being recognized by the marketplace and is certainly reflected in this month’s Cloud Confidence Index numbers.
Here’s the Cloud Confidence Index chart for the period from Feb. 20 through March 24.
| Company | Market Cap 3/24/23 | Market Cap 2/20/23 | Change |
|---|---|---|---|
| #1 Microsoft | $2.07 trillion | $1.92 trillion | +7.9% |
| #2 AWS | $996.4 billion | $996 billion | N/A |
| #3 Google Cloud | $1.35 trillion | $1.21 trillion | +11.6% |
| #4 Oracle | $238 billion | $235.3 billion | +1.3% |
| #5 SAP | $143 billion | $138.8 billion | +3% |
| #6 Salesforce | $187 billion | $165.2 billion | +13.2% |
| #7 IBM | $112 billion | $121 billion | -7.4% |
| #8 Workday | $48.8 billion | $47.8 billion | +2.1% |
| #9 Snowflake | $44.1 billion | $49.6 billion | -11.1% |
| #9 ServiceNow | $87.3 billion | $89.1 billion | -2% |
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