The cloud keeps growing

More computing will move to cloud infrastructure.

By AKA Studio

What’s inside

• MSFT Microsoft: Azure grew 40% as enterprises move core workloads; the purest large-cap cloud migration bet
• AMZN Amazon: AWS leads IaaS at $37.6B a quarter and is betting big on sovereign cloud in Europe
• GOOGL Alphabet: Google Cloud topped $20B growing 63%, fastest of the three, with capex rising to $190B
• ORCL Oracle: Record FY2026 results and RPO growth driven by cloud infrastructure wins
• EQIX Equinix: Interconnection hubs are where hybrid and multicloud traffic actually lands
• DLR Digital Realty: Data-center real estate absorbs the overflow of hyperscale capacity demand
• VRT Vertiv: Power and cooling kit scales directly with the $610B hyperscaler build cycle
• NVDA NVIDIA: Every migrated AI workload is priced in accelerators the clouds keep buying
• AVGO Broadcom: Custom cloud silicon and datacenter networking as hyperscalers design their own stacks
• DDOG Datadog: Observability bills rise with every workload that leaves the data center
• NET Cloudflare: Edge and security layer for distributed, multicloud application traffic

Why it could work

More computing will move to cloud infrastructure. The basket combines direct participants and broader suppliers.

What could break it

Adoption could disappoint, competition could weaken margins, or high valuations could already price in the trend. Some holdings are broad, indirect proxies.

For learning only. Not investment advice.