NET - 2 Cloud Stocks That Are Challenging Amazon's Dominance
2023-04-13 07:20:00 ET
Amazon (NASDAQ: AMZN) is the 800-pound gorilla of the cloud infrastructure market. Amazon Web Services captures around one-third of global spending on cloud infrastructure services and hasn't lost much ground as rivals have grown. AWS has become the standard, default choice for many enterprises, and that stranglehold will be tough to break.
That doesn't mean others aren't trying. While it will be tough for anyone to out-Amazon AWS, Cloudflare (NYSE: NET) and Akamai (NASDAQ: AKAM) are taking two differentiated approaches to wresting market share away from the king of cloud computing.
Cloudflare is best known for securing and speeding up websites, but the company has spent the past few years building out a fast, robust, and easy-to-use developer platform. No need to worry about spinning up virtual servers; figuring out the right amount of compute, memory, and storage; and managing a fleet of infrastructure. Cloudflare handles the hard parts with its serverless platform.
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2 Cloud Stocks That Are Challenging Amazon's Dominance