Amazon’s ( AMZN Quick Quote AMZN - Free Report) cloud division, Amazon Web Services (“AWS”), made its new purpose-built Amazon Elastic Compute Cloud (Amazon EC2) instances — Hpc6a — generally available in a bid to strengthen its compute offerings. Notably, the new instances, backed by 3rd Gen AMD EPYC processors, are designed to run high-performance computing (HPC) workloads at scale in the cloud while delivering up to 65% better price performance. Hpc6a instances are enabled with Elastic Fabric Adapter (EFA), which helps customers to increase operational efficiency as it offers low latency, low jitter and up to 100 Gbps of EFA networking bandwidth. These instances offer a cost-efficient way to scale HPC clusters on AWS to run their most compute-intensive workloads, including weather forecast, molecular dynamics, computational chemistry, financial risk modeling, computational fluid dynamics and computer-aided engineering. Customer Base to Expand We believe that the latest move will help AWS gain strong momentum among customers in the data-driven world, wherein the demand for HPC is rapidly increasing. Notably, customers like Maxar Technologies, DTN and TotalCAE have already shown interest in Amazon EC2 Hpc6a instances. We believe that the growing customer momentum will continue to drive AWS's top line. Moreover, strengthening clientele will continue to aid its dominance and competitive edge against its strong peers like Microsoft ( MSFT Quick Quote MSFT - Free Report) and Alphabet's ( GOOGL Quick Quote GOOGL - Free Report) Google. Apart from customer interests in the new service, AWS was picked by Rivian ( RIVN Quick Quote RIVN - Free Report) as the preferred cloud provider. In a bid to boost the efficiency and performance of electric vehicles, and accelerate the consumer and commercial shift to these vehicles, Rivian is leveraging AWS's analytics, compute, containers, and machine learning capabilities. Further, Aurora has recently chosen AWS as its preferred cloud provider for machine learning training and cloud-based simulation workloads. Then again, Nasdaq has signed a multi-year agreement with AWS in a bid to accelerate the development of advanced cloud-enabled infrastructure for the world's capital markets. It is gearing up to transfer its North America markets to AWS. Portfolio Expansion The latest move bodes well for the growing efforts of AWS toward expanding its product and services portfolio. Apart from Amazon EC2 Hpc6a instances, the company recently unveiled a visual development environment — AWS Amplify Studio — enabling web application user interface creation with minimal coding. The company recently announced a managed wide area network (WAN) service, namely AWS Cloud WAN. The new service aids in the seamless development, management, operation and monitoring of a global network with the help of a central dashboard. Furthermore, the company introduced AWS Private 5G, enabling enterprises to deploy and scale their 5G mobile network seamlessly. AWS also announced a managed service called AWS IoT FleetWise, which helps collect and transfer data from millions of vehicles to the cloud cost-efficiently in real-time. It announced AWS IoT TwinMaker, which helps quickly create digital twins of devices, equipment, and processes. The company unveiled three Amazon Elastic Compute Cloud (Amazon EC2) instances, namely C7g, Trn1 and Im4gn/Is4gen/I4i. Further, AWS made Amazon EC2 DL1 instances generally available. DL1 instances, backed by Gaudi accelerators from Habana Labs, assist in training ML models. To Conclude We believe that all the endeavors along with the expanding data centers and cloud region will continue to aid Amazon in winning clientele in the booming cloud market. However, Amazon, which currently carries a Zacks Rank #5 (Strong Sell), is currently facing stiff competition from Microsoft and Alphabet. You can see . the complete list of today's Zacks #1 Rank (Strong Buy) stocks here Notably, Microsoft Azure has become the key growth driver for Microsoft. The company is currently riding on the robust adoption of Azure cloud offerings. Notably, Azure's increasing number of availability zones and regions globally along with strength in its consumption-based business is likely to continue driving Microsoft's cloud momentum in the near term. Similarly, Google Cloud is contributing substantial growth to the total revenues of Alphabet. Expanding data centers, availability zones and cloud regions are expected to keep boosting Alphabet's cloud position.