How this ranking is made
One number decides the order: the cloud revenue each company reported for its most recent quarter.
What counts as a cloud computing company
A company is in scope if it sells computing infrastructure or platform services over the internet, billed by use or by subscription: virtual machines, GPU capacity, storage, databases, networking, and the managed services built on them.
Companies that only sell finished applications, such as CRM or office software, are out of scope. So are data center landlords that lease space without running a cloud service.
The number we rank on
The order comes from revenue for the latest quarter a company has reported, in US dollars. Revenue is what customers paid. It is audited or reviewed, published on a schedule, and comparable between companies in a way that review scores and feature lists are not.
Growth, market share and backlog appear next to it as context. They do not change the order.
Which revenue line we use
We use the narrowest line a company publishes for its cloud infrastructure and platform business.
| Company | Line used | Note |
|---|---|---|
| AWS | AWS segment | Amazon reports AWS as its own segment. |
| Microsoft Azure | Azure | Microsoft Cloud ($63.9 billion) is wider and includes Microsoft 365. |
| Google Cloud | Google Cloud segment | The segment includes Google Workspace. |
| Oracle | Cloud infrastructure (IaaS) | Total cloud revenue with applications was $11.6 billion. |
| Alibaba Cloud | AI Cloud and Compute Services segment | Reported in renminbi; the dollar figure is Alibaba’s own translation. |
| CoreWeave | Total revenue | CoreWeave sells cloud capacity only, so total revenue is the cloud figure. |
| Cloudflare | Total revenue | Includes security and network services as well as compute and storage. |
| Nebius | Group revenue | Includes the Avride and TripleTen businesses. |
| DigitalOcean | Total revenue | DigitalOcean sells cloud services only. |
| Akamai | Cloud infrastructure services | Akamai’s total revenue was $1.122 billion; most of it is delivery and security. |
Quarters and fiscal calendars
Each company appears with its latest reported quarter on the date of the update. Most use calendar quarters. Oracle’s quarter ends a month earlier, and companies publish on different dates, so one edition can mix quarters. The quarter is named in every row.
Currencies
We use dollar figures only when the company publishes them. Alibaba reports in renminbi and gives its own dollar translation, which we use. OVHcloud reports only in euros, so it is listed without a rank. We do not apply exchange rates ourselves.
What is left out
Updates and corrections
The table is revised when a ranked company reports a new quarter. Each revision is recorded in the changelog with its date.
Every figure links to the document it came from. Where we read a company’s release through a news outlet or a mirror, the link goes to the page we read.
Sponsorship
No company has paid to appear on this site and rank cannot be bought. The disclosure page states how any future sponsored placement would be labeled.