As the tech titans prepare to square off in the great battle for cloud computing, Jefferies analyst Brent Thill says only two firms are likely to emerge as front-runners. "This is really a two-horse race, it's Amazon and Microsoft, " he told CNBC's " Squawk on the Street " on Wednesday. However, Thill believes Microsoft can take market share from the e-commerce giant. Big Tech was in focus Wednesday after Microsoft posted better-than-expected quarterly results that sent the stock up more than 2% . Google parent Alphabet, meanwhile, posted disappointing third-quarter cloud revenue and shares fell 9%.

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Persons: Brent Thill, CNBC's, Thill, … Amazon's, Amazon's Organizations: titans, Jefferies, Microsoft, Tech, Google