The cloud wars just got a little more interesting.

On Monday, Microsoft (MSFT) - Get Report announced it's teaming up with some major software players as it attempts to gain ground against Amazon (AMZN) - Get Report AWS and Alphabet's Google's (GOOGL) - Get Report GCP.

At Microsoft's annual developer conference, CEO Satya Nadella announced an open data initiative, a partnership between Microsoft and fellow software giants Adobe (ADBE) - Get Report and SAP (SAP) - Get Report in which enterprise customers will have better access to their data. The three companies compete on many cloud product offerings, but are now making a play to create one open data system.

The partnership will "unlock the data potential for every customer," SAP CEO Bill McDermott said at the conference. "This is a seminal moment in the information technology industry," he added.

"We say to the customer, 'the data is yours. We want to actually lower the cost of your data.'"

The idea, Nadella said, is to "take data and think of it as a renewable resource." Adobe's customer experience platform, Microsoft's Dynamics 365 product and SAP's C/4HANA and S/4HANA platform will all be able to use a "one data model."

"The three of us can do some magic with unlocking all of the data that was previously in silos," said Adobe CEO Shantanu Narayen.

Following the announcement, Microsoft shares were down 0.4% to $113.81, SAP shares gained 0.4% to $122.03 and Adobe was roughly flat at $260.91.

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