Earlier last week, (NASDAQ: MSFT) and Alphabet (NASDAQ: GOOG) gave somewhat conflicting pictures of the all-important cloud computing industry. While Microsoft posted an acceleration relative to the prior quarter in its Azure cloud growth rate, Google Cloud showed a big deceleration.

So going into Thursday's key earnings reports from other tech giants, investors were looking for confirmation as to whether cloud growth is stabilizing, or if Microsoft was merely gaining market share, because of its partnership with leading artificial intelligence platform OpenAI.

Fortunately, it appears investors are breathing a sigh of relief following the earnings results and commentary from Amazon (NASDAQ: AMZN), the market share leader in cloud, as well as Intel (NASDAQ: INTC), which has exposure to the general server market.

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Source Fool.com