When it comes to the cloud, Amazon.com (AMZN) - Get Report is on fire.

The Seattle-based e-commerce giant announced Wednesday that Salesforce.com (CRM) - Get Report will be using its Amazon Web Services for international expansion. Salesforce, which was already running some of its offerings on AWS infrastructure, will now use AWS for its core services such as Service Cloud and App Cloud.

Shares of Amazon closed up around 0.9% Thursday to $714.91 a piece, while Salesforce fell about 0.3% to $83.34.

"Amazon is on a roll when it comes to servicing the market for cloud computing," said Fred Moran, director of research at Burke & Quick Partners LLC, via phone Thursday.

The partnership with Salesforce is another confirmation that AWS is dominating the cloud computing market with a broad platform of products and services, he added.

"We certainly can't quantify it, but winning Salesforce as a customer represents a major new enterprise customer win," Moran explained, adding that the partnership is bringing together two tech giants that should nicely enhance their respective businesses.

Along with Amazon, Microsoft (MSFT) - Get Report has also been expanding its presence in cloud computing with Azure. The two, in particular, have distanced themselves from the pack and are well-positioned to gain high-profile customers like Salesforce over time.

"You're definitely seeing a push across Corporate America for enterprises to outsource computing needs because it's more cost-effective and [because it] provides them access to a complete suite of services that goes way beyond what they're capable of building," Moran said, adding that the market will continue to see an acceleration of corporations moving to the cloud.

"I would say that we're in the early innings of a fairly extended game," he added.

Amazon has benefited from its early entrance to cloud computing, which refers to the idea of using remote servers on the Internet to store information, rather than on-premises hardware. Jeff Bezos' e-commerce giant essentially created the cloud business model in 2006 when it started to allow corporations to use its infrastructure to remotely store data.

Over the years, AWS has become a gem in the Amazon umbrella. For example, it generated about 70% of Amazon's revenue growth in 2015, generating around $8 billion in total.

"Based on quarterly filings, it appears that Salesforce-AWS agreement could consume $400 million in cloud services over the next four years," Pacific Crest Securities analyst Brent Bracelin in a Thursday note.

Bracelin estimated that Amazon's share of the infrastructure-as-a-service (IaaS) market could rise to 53% by year-end, adding that this would be larger than its competitors -- including Microsoft's Azure and Alphabet's (GOOGL) - Get Report cloud platform -- combined.

"Friends don't let friends build data centers," he wrote, citing software company and AWS customer Infor's statement at AWS Summit in 2014. "Why build when you can rent part of the $17 billion investment AWS will have made into a global footprint of data centers and machines by year-end?"

Meanwhile, the partnership may be even more about the endorsement from Salesforce than the actual revenue for Amazon.

Salesforce only spends about $300 million annual in capex and will likely only use AWS for overseas expansion, Deutsche Bank Securities analyst Karl Keirstead wrote in a note Wednesday.

Still, "this is a big deal" in that Salesforce is the first software-as-a-services vendor to "give up on the idea that they need to own/control their own data center infrastructure footprint."