cloud capitalist

A term for new media moguls who seek to make money by creating and managing cloud computing for individual and business customers. 

Historical perspective: In 2018, IBM bought its way onto the cloud for $34 billion with the purchase of Red Hat, according to The Wall Street Journal. The acquisition, the third-largest deal in the tech [[the industry|industry’s]] history, is a significant gamble on the business of renting out computing power and software in the cloud. "Cloud capitalists" also include Facebook, Apple, Google, and Twitter, but Amazon emerged as the dominant player with its AWS service.

NetLingo Classification: Online Business