ServiceNow says its hyperscaler partnerships are ramping up faster than planned — and it now shows up in the margins. It crossed $1B in AWS Marketplace transactions and listed its AI agents on the Microsoft marketplace — same quarter.

AWS added $301B to its backlog in 12 months, taking it to $496B. Amazon now says AWS could become a $1T annual revenue business. Here is what Amazon sees coming next.

AWS, Azure and Google Cloud just added $200B+ to customer cloud commitments in a single quarter. The total is now at ~$1.5 trillion. This came alongside a sharp acceleration in cloud revenue growth. ​ Here’s the breakdown

50% of AI companies are scaling their FDE model as a permanent part of their go-to-market. 38% of them call FDEs a revenue driver. 30% charge customers nothing for the work.

Microsoft Marketplace sales doubled again in FY26, its third consecutive year — Mira Ayad, GM of Global Marketplace, highlighted this week. That compounds to 8X Marketplace growth from FY23. The drivers underneath it are worth planning around. Here is what stood out in Microsoft Partner GTM Kickoff:

Microsoft shares up 15% today after its $100B+ Azure business grew 43% in Q4, and guided 45% next quarter. It added $51B to commercial RPO last quarter. None of it came from frontier model companies. Clearly AI infrastructure spending is translating into growth.

Google Cloud revenue grew 82% in Q2 — almost unheard of at a nearly $100B annualized run rate. Partner momentum was even stronger: Marketplace transactions surged >7X YoY.

Microsoft made its strategic direction explicit: “Co-sell is now Microsoft Marketplace-first.” Microsoft is moving from partner-reported impact (PRACR) toward verified Marketplace Billed Sales (MBS). In FY27, Partner Reported Azure Consumed Revenue (PRACR) no longer operates as a broad co-sell mechanism. Marketplace becomes the primary path for co-sell at scale, with transaction credit recognized through MBS.

Microsoft's new data: partners who co-sell with its sellers have 84% higher win rates and close 41% larger deals. Yesterday, at MCAPS—Microsoft’s FY27 partner kickoff—the company said co-sell eligibility is now tied to demonstrated capability. So what gets you in the room now? A credential, and a clear push toward Frontier.