Amazon AMZN is making every effort to strengthen presence in the global cloud market on the back of its portfolio strength.

Weta Digital—a single-site VFX studio focused on creativity and innovation in visual effects and animation— is the latest client of AWS. Notably, Weta, which is known for Middle-earth and Gollum in The Lord of the Rings, and Na’vi and landscapes of Pandora in Avatar, has gone all-in on AWS.

Weta’s selection of AWS highlights the efficiency and reliability of AWS’ innovative cloud products and services.

Notably, the client aims at supporting a pipeline of 100 proprietary tools and LED-stage virtual production service by shifting majority of its IT infrastructure to AWS.

Weta is leveraging AWS services such as storage, security, ML, storage and analytics in order to allocate its workloads across the worldwherever the creative staff is based.

Additionally, the client is looking at producing and rendering original content from Weta Animated on the back of the abovementioned AWS services.

Expanding Clientele

The recent move by Weta is in sync with AWS’ strategy to expand clientele.

Apart from this,Jack in the Box JACK went all-in on AWS by migrating from its on-premises data centers to the latter.

Further, job site provider, Indeed, has selected AWS as its preferred cloud provider.

AWS also got selected by HSBC Holdings as a key, long-term strategic cloud provider. HSBC by migrating to AWS will automate key processes and boost operational efficiency.

Further, IHS Markit has selected AWS as its preferred cloud infrastructure provider. Additionally, Capella Space has also gone all-in on AWS.

Notably, expanding will help Amazon in maintaining its dominant position in the cloud market where competition is intensifying with the growing endeavors of peers like Microsoft MSFT and Alphabet’s GOOGL Google.

Per the latest Synergy Research Group report, Microsoft and Google acquired worldwide cloud market share of 18% and 9% in second-quarter 2020, respectively, while Amazon led with 33% share.

Portfolio Strength: A Key Catalyst

We believe AWS’ focus on enhancing services offerings is likely to continue driving momentum across customers

Recently, AWS made io2 for Amazon Elastic Block Store (Amazon EBS) generally available. Further, AWS announced the general availability of Amazon Braket, which is a fully managed service that allows customers to test and troubleshoot quantum algorithms on quantum computer simulators.

Furthermore, AWS Wavelength on Verizon’s 5G network was recently made generally available for users in Boston and San Francisco Bay Area.

Moreover, AWS made its managed service namely Amazon Fraud Detector, which rapidly indentifies fraudulent online activities, generally available. It also announced the general availability of a set of capabilities for Amazon Connect namely Contact Lens powered by ML.

We believe expanding cloud services portfolio will continue to help AWS in winning clientele, which in turn will aid its leading position in the cloud computing market.

Currently, Amazon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don’t buy now, you may kick yourself in 2021.

Click here for the 6 trades >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research