Software giant Microsoft has said that it aims to make more than $20 billion in annual revenue from its cloud computing businesses by the end of fiscal 2018.
Chief Executive Satya Nadella said this would mean tripling its cloud based revenue in three years.
Microsoft is one of the leaders in the cloud, and been making a killing providing computing power and storage to customers through its network of data centres.
Microsoft said that its total commercial cloud revenue, which includes online versions of its Office and Dynamics applications, is running at $6.3 billion per year.
Its closest rival in the cloud, Amazon.com said its competing Amazon Web Services operation took in $1.57 billion in revenue in the quarter, which would also equal an annual rate of $6.3 billion.
