Azure just crossed $100 billion and Google Cloud is growing at 82%, but the bigger story is where those enterprise seats are actually moving and which balance sheet can survive the spending war to find out.

Google Cloud revenue surged 82% to $24.8 billion in Q2 2026, outpacing AWS at 37% and Azure at 43%, reshaping the cloud infrastructure

Alphabet and Meta both dropped Q2 earnings within days of each other, but the results sent these two AI giants down sharply different paths. One trades at a discount despite…