Xin Lang Cai Jing·2025-12-15 00:17Core Viewpoint - 2026 is expected to be a year of accelerated revenue growth for major cloud computing companies in North America, driven primarily by demand for AI training and inference from large customers, alongside a steady recovery in traditional cloud business [1] Group 1: Revenue Growth Drivers - AI training and inference demand from large clients will be a major driver of revenue growth [1] - Traditional cloud business demand is also showing a steady recovery [1] Group 2: Supply Side Dynamics - The production of data centers and custom chips is expected to alleviate the tightness in computing power supply [1] Group 3: Future Projections - Revenue growth rates for Google GCP, Amazon AWS, and Microsoft Azure are projected to accelerate further in 2026 compared to 2025, based on order fulfillment rhythms and the data center reserves of each cloud vendor [1] - Continued optimism is expressed regarding investment opportunities in leading cloud vendors for 2026 [1]