Analysis
How big are the Cloud Kings' cloud businesses?
We read the latest annual report of all 17 eligible companies. Here is what each one discloses about its cloud business, and where the disclosures fall short.
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The Cloud Kings 10
The world’s 10 largest publicly traded cloud service providers and cloud software companies, ranked by market capitalization. Ranking as of Oct 15, 2026.
| # | Company | Market cap |
|---|---|---|
| 1 | AlphabetGOOGL | $4.25T |
| 2 | MicrosoftMSFT | $4.01T |
| 3 | AmazonAMZN | $2.75T |
| 4 | Tencent0700 | $484B |
| 5 | OracleORCL | $407B |
| 6 | AlibabaBABA | $270B |
| 7 | SAPSAP | $260B |
| 8 | ShopifySHOP | $229B |
| 9 | IBMIBM | $221B |
| 10 | SalesforceCRM | $203B |
Total equity market capitalization in USD, closing prices of Oct 15, 2026. Methodology v1.3.
Methodology and sources
Methodology explainer
How CloudKings calculates market capitalization
Price times shares sounds simple. For the world's largest cloud companies, share classes, treasury shares, depositary receipts and currencies all get in the way.
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How big are the Cloud Kings' cloud businesses?
We read the latest annual report of all 17 eligible companies. Here is what each one discloses about its cloud business, and where the disclosures fall short.
Methodology explainer
How CloudKings calculates market capitalization
Price times shares sounds simple. For the world's largest cloud companies, share classes, treasury shares, depositary receipts and currencies all get in the way.
Explainer
What counts as a cloud company?
Almost every software company now delivers its products over the internet. Here is where The Cloud Kings 10 draws the line, and why.
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