Last October, citing savings of up to 90%, GE’s technology team announced plans to eliminate 29 of its 34 private data centers, by shifting their workloads to the public cloud via Amazon Web Services. Because of this “tipping point” at GE and elsewhere, Amazon.com reported that AWS’s revenue growth accelerated to 70% on average in 2015, setting it up to crack the $10 billion mark in 2016. Jeff Bezos, CEO of Amazon, has stated for some time that he believes AWS revenues could surpass those of its retail business, a tall order given the $100 billion that the latter delivered last year. What he had not been telegraphing, until Amazon broke Infrastructure-as-a-Service out in its income statement during the second quarter, is that AWS, with a 24% operating margin, is already nine-times more profitable than its retail business.

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