Amazon and Nebius: Cloud Computing Competition
Amazon (NASDAQ: AMZN) reported its annual run rate of AWS’s custom chips now at $10 billion, growing at a triple-digit pace. Meanwhile, Nebius (NASDAQ: NBIS) had an annual recurring revenue of $1.25 billion in 2025, expected to surge to between $7 billion and $9 billion in 2026, highlighting rapid growth in the cloud computing sector fueled by AI startups.
Amazon’s AWS posted the best revenue growth in over three years during Q4 2023, solidifying its cloud dominance. As Nebius gains traction with AI developers seeking advanced computing infrastructure, its emergence as a competitor raises questions about the sustainability of Amazon’s lead.
