Capital spending by cloud providers is a reasonably good metric for their growth and investment in the future.

As I keep repeating, CAPEX is both a prerequisite to play in the big boy cloud and confirmation of customer success. Both IBM and Oracle are tens of billions of dollars in cloud infrastructure CAPEX behind Amazon, Google, and Microsoft.

The amount that major cloud providers spend on capital is amazing. This article looks at the next rung of cloud providers to see how they compare.