Slowdowns in earnings from the Big Tech camp have triggered recent swathes of job cuts as the cloud computing market matures, with sources of lucrative contracts approaching saturation and underscoring the charge to AI-based services. Recurring revenues will increasingly be prioritized over new business for AWS, Google Cloud, Microsoft Azure and others in the years ahead, as core operations take precedence over lossmaking ‘Other Bets’ business. These trends have already led to Google and Meta pulling back from direct telecoms connectivity businesses (Meta Connectivity has been shut down, and there are hints of reduced spending on the Telecom Infra Project, which the company founded). The most recent round of quarterly results have only reinforced the sense that these companies will…