Public Cloud is growing 16%, but it’s too small to save the quarter for OVHcloud

We went through OVHcloud’s Q1 revenue update press release, the January 8 revenue deck presentation, and Investor Day materials to see what’s really changing and what isn’t.
Revenue is up, the plan hasn’t moved, and discipline is holding. But most of the growth comes from pricing, mix, and sweating the existing base, not from a broad pickup in demand.