From Nasdaq: 2024-05-17 08:00:00

The global cloud computing market continues to see significant growth, expected to reach $1.27 billion by 2028. Major players like Microsoft, Google, and Amazon are leading the market, with AWS earning $25 billion in revenues in Q1 2024. Gartner forecasts a 20.4% increase in global end-user spending on public cloud services in 2024.

Alibaba and Baidu also reported strong growth in their cloud divisions, showcasing the increasing demand for cloud services driven by AI advancements. ETFs focused on cloud computing, such as WCLD, CLOU, IVES, FCLD, and SKYY, have seen gains in response to the booming industry. Investors can stay informed with Zacks’ free Fund Newsletter for the latest ETF insights.



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