AWS, Azure and Google Cloud reported staggering revenue growth numbers last week. Combined cloud backlog exceeds $1.2 Trillion. All three are capacity constrained. Here’s a quick breakdown.

$553B customer commits. 531% multicloud database growth. 243% AI infra growth. Oracle just showed what partner-led AI-cloud growth really looks like. For months, Wall Street questioned whether this was real demand or just AI narrative. Oracle’s last quarter performance gave a clear answer.

Cloud commits across AWS, Azure and GCP jumped to nearly $900B last quarter - up from $531B just one quarter prior.

Cloud commits crossed $1.2T. Yet, too many GTM teams still run marketplace as a side project. That disconnect is the single biggest theme after training hundreds of alliance, marketplace, and partnership leaders across 14 cohorts of Cloud GTM Leader.

Partnerships are one of AI’s most efficient GTM levers for scalable growth, according to the just published State of AI report. Yet only 3% of AI companies use channel / partnerships as their primary GTM motion. Why?

CEO, CRO, CFO and CPO do not buy into marketplace strategy for the same reason. Many alliance teams learn this the hard way. Cloud marketplace pitches often fail internally when companies repeat the same message to every executive.

CRO of a fast-growing AI company told me recently: once his sellers saw that Marketplace + co-sell can strengthen every part of MEDDPICC, there was no going back.

Cloud account managers at AWS, Azure, and Google carry quotas that would make most CEOs sweat - often $100M+ a year.

If Marketplace only shows up at the end of the deal, it’s not a GTM motion. It’s firefighting.

In one year, channel and partnerships went from 21% to 31% of B2B software revenue. Direct sales dropped from 73% to 57%. The GTM mix is shifting fast. ICONIQ, one of the largest VC/PE funds, surveyed 150+ B2B software CROs, CEOs and sales leaders for their 2026 State of GTM. The channel signal is one of the loudest findings in the report.

Google now controls 25% of all AI computing power - by building its own chips. Their full-stack model is starting to reshape cloud economics and partnerships.

This may be the clearest signal yet that partnerships are now central to enterprise AI strategy. In Accenture’s latest report, ecosystem moved to the digital core.

Zscaler transacted $900M through cloud marketplaces in 9 months. That’s $100M/month. Marketplace TCV more than 2X (doubled) YoY, making it the fastest growing GTM channel.

Elastic just told investors that hyperscaler partnerships are part of why they win. It posted an excellent quarter. Cloud revenue reached $837M for the year - 48% of total.

~45% of Snowflake’s revenue now runs through AWS Marketplace: $2B+ in 2025 alone, $7B+ total. They just committed $6B more to AWS and raised their full-year growth outlook.

Half of NVIDIA’s $75B data center revenue now comes from outside the big clouds. The AI buildout just gained a second engine — and last quarter it grew faster than the first.

There is a popular myth right now: AI products are so powerful that customers just find them, try them, swipe a credit card, and revenue explodes.