According to CoinMeta, and as reported by Chaoxiang Research, in a research report on August 6, Morgan Stanley pointed out that the combined growth rate of the three major cloud providers in the second quarter increased from 39% to 48%. Among them, AWS grew by 37%, Azure grew by 43%, and Google Cloud grew by 82%. The AI annual revenue of AWS exceeded $25 billion. Morgan Stanley maintained an overweight position on DDOG, Snow, and MDB, with target prices of $300, $300, and $380 respectively, but noted that these targets face the challenge of high valuations.