off-prem

Before long, we could be writing about a cloud company with a retail side hustle

Amazon Web Services will become a trillion-dollar business in five to ten years, and thanks to the AI boom Amazon CEO Andy Jassy thinks it should be able to grow by 40 percent or more in 2027 or 2028.

The cloud giant is already on track to generate $184 billion annual revenue this financial year, helped by 39.3 percent year-over-year growth that propelled Q3 revenue to a whisker short of $46 billion.

“It’s important to remember that the vast majority of global IT spend, about 85 percent, is still on premises, and we’re in a 10- to 20-year cycle where that equation will flip to the cloud,” he said on Amazon's Q3 earnings call.

“Conventional wisdom has been that linchpin workloads like mainframes or storage area networks would never move to the cloud,” he observed, before triumphantly noting “these workloads are moving.”

He thinks AI will help, too.

Jassy said the cloudy concern installs a new AI accelerator “about…