Cloud Technology News of the Month: July 2022

Quarterly earnings from Amazon, Google, and Microsoft say one thing: growth. And more companies than ever are choosing the cloud over traditional hardware. What happened in the cloud world this […]

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cloud technology news of the month july

Quarterly earnings from Amazon, Google, and Microsoft say one thing: growth. And more companies than ever are choosing the cloud over traditional hardware. What happened in the cloud world this July? Keep on reading to find out!

Story of the Month: Spending On the Cloud Is Overtaking Traditional IT Hardware

Spending on public cloud services is on its way to hitting another milestone. Businesses shelled out $18.3 billion on cloud computing in Q1 2022, which is up 17.2% YoY. The primary growth driver was public cloud services spend, which made up 68% of the total (up 15.7% YoY). 

Why does this matter? Businesses are spending more on cloud computing services than on traditional IT hardware.

The Register also asked a thought-provoking question: are cloud giants on their way to killing colocation data centers off? While colos are still relatively fine, the industry is seeing a growing trend towards consolidation.

All of this aligns with what Microsoft and Google recently revealed about their cloud units. Last quarter, Azure grew 46%, achieving the fastest quarterly growth rate in the past five quarters (and just in line with expectations). GCP noted worse results – 35% growth, which was below what analysts expected. 

Is that because the company’s clients are suffering in the current recession? Whatever the reason, it’s still clear that the cloud is on the rise.

Organizations that pour more and more into public cloud services may soon get surprised by the amounts on their cloud bills. Cost visibility is the first step to controlling these costs. Luckily, teams can easily check what’s happening using plug-and-play cost monitoring solutions. If you run your applications on Kubernetes, check out the new free module that does that.

Sources: IDC, The Register

The Business of Cloud

Engineers are aware of infrastructure costs, and sometimes, they’re even scared of what the monthly billing holds. A great piece showing how serverless functions can spiral out of control.

Source: Cloud Irregular

The crypto crash had one interesting consequence: dropping GPU prices. We’re talking 15% in May, and similar 10–15% drops each month since then. As GPU mining profitability plummets, NVidia is busy using machine learning to optimize its new chip layouts.

Source: Tom’s Hardware, NVidia

Amazon is buying One Medical for a whopping $3.9 billion. That’s a whole new industry for the tech behemoth to tackle. Why now?

Source: TechCrunch

Security & Outages

Why is it important to have SSH on your EC2 instances? Sysdig shared a lineup of potential threats. 

Source: Sysdig

The First Cyber Safety Review Board report found Log4j to be an ‘endemic vulnerability’ – a worldwide critical flaw. 

Source: The Record

Do you remember the giant Capital One hack that used a series of small AWS misconfigurations? The person responsible for it (a former software engineer at AWS) has been convicted because she couldn’t help boasting about it online.

Source: Business Insider

Meanwhile at CAST AI

Many companies operating in the cloud suffer from a lack of cost visibility. Our new plug-and-play cost monitoring feature helps teams to track costs in complex Kubernetes environments and get a full picture of the requested vs. provisioned resources.

Read more or, better, give it a go now

This series explores the most attention-grabbing cloud technology news, bringing you up to speed with the latest releases, acquisitions, research, and hidden gems in cloud computing – the stuff actually worth reading.

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CAST AI Blog Cloud Technology News of the Month: July 2022