Growth Is Crashing for the Public Cloud Hyperscalers

Author(s): Scott Bickley, Josh Mori

The continuing theme from Q4 of 2022 into Q1 of 2023 across the Big Three public cloud hyperscalers can be summed up in the phrase “customer workload optimization,” which is the process of cloud customers performing deep-dive exercises to drive costs and inefficiencies out of their recurring cloud spend. Cloud workload optimization has a material effect on the hyperscalers’ earning growth, driving growth rates down and countering the positive effects of new cloud growth projects (migration and digital transformation). None of the Big Three were spared rolling out of Q1 of 2023.

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