Which Big 3 Cloud Computing Stock Is the Best Buy Now?

Amazon's cloud computing wing generates the majority of its profits.

Alphabet's custom AI chips are causing a massive revenue spike.

Cloud computing is one of the most exciting industries to invest in right now. While it may sound like a legacy business, the reality is that heightened artificial intelligence (AI) demand has resulted in a booming cloud computing business, and the big three cloud computing providers are feeling it.

Alphabet 's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google Cloud, Microsoft (NASDAQ: MSFT) Azure, and Amazon (NASDAQ: AMZN) Web Services (AWS) make up the big three, but which one is the best buy now?

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I'll start off by mentioning that I like all three as long-term investments. Cloud computing will be a major, long-term beneficiary of the build-out, and these three will see a major business transformation a decade from now. It's a fairly simple business: Cloud computing providers build out excess computing capacity, then rent it out to those who need it.

Cloud computing products range from storage to central processing units (CPUs) for running business tasks, all the way to dedicated AI chips like graphics processing units (GPUs) and to custom options for training and running AI models. The latter has caused each of their businesses to boom and is what will leave a lasting impact on them.

Cloud computing often operates on a consumption model, so clients pay for what they use. With AI, there are millions of processes going on at once, and new models will need to be trained as new and updated training sets become available.