Welcome to February’s Cloud Economics Pulse, CloudZero’s monthly look at cloud spend as AI moves from experiment to expectation. Last month, we closed out 2025 with a settling: provider shares locked in, compute softened, and AI claimed more of the mix (big surprise there). January confirmed those patterns weren’t year-end hustle and bustle. They signify a new baseline. Also, the Big Three (AWS, GCP, Azure) barely moved. They’re as entrenched as can be.