> GCP and Azure currently lose money for Google and Microsoft

100% not true for Microsoft. Just listen to the most recent earnings call or read the analyst reports.

Eg https://www.nasdaq.com/articles/microsoft-nasdaq:msft:-cloud... “In fiscal Q2, Microsoft Cloud’s gross profit margin even expanded by about 2% year-over-year to 72%. When you have a business with such high margins growing at 20%+, profitability is set to expand considerably even if revenues in other segments fail to rebound”