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Sometimes it seems as if the cloud is swallowing corporate computing. Last year businesses spent nearly $230bn globally on external (or “public”) cloud services, up from less than $100bn in 2019. Revenues of the industry’s three so-called “hyperscalers”, Amazon Web Services (AWS), Google Cloud Platform and Microsoft Azure, are growing by over 30% a year. The trio are beginning to offer clients newfangled artificial-intelligence (AI) tools, which big tech has the most resources to develop. The days of the humble on-premises company data
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