AWS CEO sees massive opportunity to expand cloud service offerings

Amazon Web Services (NASDAQ:AMZN) CEO Matt Garman indicated there remains a massive opportunity in building its cloud operations, as the vast majority of enterprises still house data workloads on premise.

“Maybe about 15% to 20% have been cloud enabled,” Garman said at the Goldman Sachs Communacopia and Technology conference on Monday. “The vast majority of workloads have not been moved yet, so that creates a lot of opportunity ahead. There is a massive amount of on-prem data workloads still out there.”

“We are really helping customers move more quickly to put their workloads in the cloud,” he added. “It is so much easier than running than own servers. AI is also pushing more people to the cloud.”

Despite already having a $105B run rate, Garman remains bullish for what’s ahead. He also said the developments made so far in AI aren’t even the tip of the iceberg.

“I am incredibly excited about this technology,” he said. “Over time, it is going to change every industry at some level. Early on, companies are making efficiency gains through AI. Fantastic, but that is scratching the surface of the real value of AI over time. We are unlocking capabilities that have never been possible before.”

AWS also continues to build partnerships with companies like Nvidia (NVDA), AMD (AMD) and Intel (INTC).

“We have fantastic partners,” he said.

Indeed, Amazon Web Services and Oracle announced a new strategic partnership today, unveiling Oracle Database@AWS, which lets customers access Oracle Autonomous Database and Oracle Exadata Database Service on AWS.

“We are seeing huge demand from customers that want to use multiple clouds,” said Larry Ellison, Oracle Chairman and CTO. “To meet this demand and give customers the choice and flexibility they want, Amazon and Oracle are seamlessly connecting AWS services with the very latest Oracle Database technology, including the Oracle Autonomous Database.”