Generative AI is bringing back cloud demand after IT budgets were slashed, and this boom could be a big win for Amazon, analysts say

• Cloud deals took about 50% longer than normal to close in Q1 as customers slashed IT budgets.
• Deal cycles are back to closing at about 30 to 60 days in Q2, a Mizuho Bank report said. 
• The demand for generative AI, which operates in the cloud, has driven the stabilization. 

The big cloud-computing budget cut could be subsiding thanks to generative AI, and Amazon Web Services could benefit massively, according to a new survey of CIOs from Mizuho Bank.