Three cloud-computing stocks emerge as solid AI investments for May: Amazon, Alphabet, and Microsoft, each backed by massive infrastructure spending and strong growth.

Amazon is spending $200 billion on capital expenditures this year, mainly focused on data centers for AWS, with management noting that AWS already has users lined up for most of this capacity.

Alphabet's Google Cloud grew revenue 63% year over year in Q1, outpacing other major cloud providers, boosted by sales of Tensor Processing Units (TPUs—custom chips for AI workloads) to external clients via its partnership with Broadcom.

Microsoft's Azure delivered 40% revenue growth in the past quarter, and at 24 times forward earnings, Microsoft trades at a lower valuation than Alphabet (28 times) and Amazon (32 times), though Azure's growth is not accelerating quarter over quarter unlike its competitors.