Standing at the forefront of the intelligent cloud battlefield, Microsoft (MSFT.US) faces both risks and opportunities.

In the battle for the smart cloud platform, Microsoft (MSFT.US) is one of the few tech giants. Analysts led by Sanjit Singh of Morgan Stanley said in a report: "Moving towards interoperability presents both opportunities and risks for cloud data warehouse vendors including Snowflake and Microsoft." "While investors focus on the storage layer, we see the impact of data transformation and query layers, which constitute most of the spend."