Cloud Infrastructure Platform / Consumption-Priced IaaS and PaaS

Infrastructure cloud platforms that sell elastic compute, storage, networking, database, analytics, AI accelerator, and platform services primarily through usage-based or committed-consumption contracts. The model is distinct from seat-based SaaS because revenue scales with consumed capacity, workload migration, reserved instances, data stored, API calls, and data transfer rather than named users.

Each company on its own headline number

TickerCompanyTheir metricPeriodYoYA year ago
MSFTMicrosoft CorporationIntelligent Cloud RevenueFY2026-Q4+31.5%+4.9%
SNOWSnowflake Inc.Product RevenueFY2027-Q1+33.9%+26.2%
AKAMAkamai Technologies, Inc.United StatesFY2026-Q2+4.3%+3.7%
DOCNDigitalOcean Holdings, Inc.Net Dollar Retention RateFY2026-Q1+1.0 pts+3.0 pts
QBTSD-Wave Quantum Inc.BookingsFY2025-Q4-26.8%+500.0%
CRWVCoreWeave, Inc. Class A Common StockRevenue Backlog (Remaining Performance Obligations and Other Amounts)FY2026-Q1
FSLYFastly, Inc.Net Revenue Retention Rate (Trailing Twelve Months)FY2026-Q1
HPEHewlett Packard Enterprise CompanyAnnualized revenue run-rate (Annual Recurring Revenue)FY2025-Q3
HUTHut 8 Corp.Digital Infrastructure RevenueFY2026-Q2-13.3%
IONQIonQ, Inc.Adjusted EBITDA loss (non-GAAP)FY2025-Q2+54.0%

Where they use the same metric

  • US revenue — reported by 9 of 15
  • Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization — reported by 4 of 15
  • Free cash flow (Free Cash Flow) — reported by 3 of 15
  • Commercial Remaining Performance Obligation — reported by 3 of 15

A side-by-side appears only when three or more companies report the same metric under their own definition. Nothing is translated from one company's segment into another's.

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