AI demand is rewriting enterprise procurement faster than anyone projected.

Here’s what each hyperscaler reported for the last quarter (Q4 CY2025):

Amazon Web Services (AWS):

$244B cloud commits (+40% YoY, +22% QoQ)

Revenue reaccelerated to 24% on a $142B run rate — the fastest pace in 13 quarters.

CEO Andy Jassy described a “barbelled market” with AI labs consuming massive compute on one end and enterprises deploying cost-saving workloads on the other. Both sides are pulling forward commitments.

Google Cloud

$240B cloud commits (+100%+ YoY, +55% QoQ)

The standout mover this quarter.

Revenue grew 48% to a $70B+ run rate — the fastest growth among the big three.

Backlog more than doubled year-over-year, jumping $85B in 90 days. Sundar Pichai, CEO, noted: “The number of deals over a billion dollars in 2025 surpassed the previous three years combined.”

Existing customers are outpacing initial commitments by 30%+.

Microsoft

Reported $625B total commercial RPO (+110% YoY), that spans all Microsoft Cloud products, not just Azure.

But this quarter brought an interesting new data point: 45% of the $625B — roughly $281B — comes from OpenAI (that runs on Azure).

If we apply the 45% of Azure share we used previously to the remaining non-OpenAI backlog, we’ll additionally arrive at up to $155B in diversified enterprise Azure commits.

This would put the total Azure backlog at $436B total, inclusive of OpenAI share.

In a recent call, CFO Amy Hood highlighted that the non-OpenAI part of their total backlog is also growing quickly: “Roughly $350 billion is related to the breadth of our portfolio... larger and more diversified than most peers.”

That diversified base grew 28% YoY — the organic demand signal beneath the headline.

Why include large OpenAI deals in the combined total of ~$900B commits calculation?

AWS and Google Cloud backlogs likely also include undisclosed large AI lab commitments — Anthropic and others. Microsoft is simply the first to disclose the customer concentration.

What this means for your marketplace strategy:

All three clouds remain supply-constrained and locking in bigger, longer deals. These are pre-allocated budgets enterprises must consume — and cloud marketplaces remain the fastest path to capture that spend.

• Map which of your target accounts hold cloud commits and with which provider

• Align your offers and co-sell to where those commit dollars sit

• Use commit drawdown timelines to create deal urgency with procurement

How are you factoring this rapid cloud commit growth into your marketplace deals?

Pro Tip:

Hyperscalers will prioritize partners who help customers turn committed spend into measurable AI ROI. If your offer accelerates AI adoption (and proves outcomes), your co-sell attention goes up fast.

Next, I’ll break down each hyperscaler’s growth drivers and what they signal for partners. But first — if you want the templates to turn commits into marketplace revenue: