To most people, Jeff Bezos’ Amazon is known as the company reshaping the way people buy everything from books to shoes to groceries. But the part of Amazon that is driving Bezos within shouting distance of becoming the world’s richest person doesn’t really sell anything, it rents computing power in the cloud.
The cloud is more profitable than e-tailing
As the New York Times put it on Thursday, “The profit Amazon can make on cloud-computing services is significantly bigger than in its retail sales, and that has helped turn the Seattle company from a consistent money-loser to a respectable moneymaker.”
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