Google has announced its acquisition of cloud security startup Wiz for $32 billion, marking its most significant and risky investment in the cloud sector. This move is seen as essential for Google to enhance its cloud business, which lags behind Amazon and Microsoft's revenue. Despite past hesitations from Wiz regarding regulatory concerns, Google's CEO believes this acquisition will help tackle security challenges amidst the AI boom. The deal underscores the increasing importance of cloud security in a competitive marketplace dominated by major players like Microsoft and Amazon.
"Security is a fundamental priority for CEOs and government leaders around the world, but the landscape is changing," Google CEO Sundar Pichai said during an investors call.
Both Microsoft and Amazon have profited handsomely from the AI cloud gold rush, with their cloud services reporting revenues reaching $105.4 billion and $107.6 billion, respectively, during fiscal year 2024.
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