China’s globalizing startups could be a boon to US cloud giants

After quarters of rapid growth fueled by remote work, the cloud market is cooling down as businesses look for ways to curb cloud spending in post-COVID times and an uncertain economy. AWS saw its growth slide to the mid-teens in the first month of the new year; across the industry, the market slowed to 21% growth, down from 36% the year before.
There is a silver lining — U.S. cloud giants are getting business from Chinese internet firms that are looking to set up shop overseas. China’s tech companies have been expanding abroad for decades, but many feel a new urgency to venture out

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