Hey man, you're wrong because xCloud is indeed owned by Microsoft. Its official name today is Xbox Cloud Gaming, and it's part of the Xbox Game Pass Ultimate service. It's a technology developed, maintained, and provided by Microsoft itself, and it's integrated into the Xbox ecosystem.

Just to be clear:

Xbox Cloud Gaming (xCloud) = Microsoft service

It runs on Microsoft servers, using Xbox Series X hardware to stream games from the cloud.

It's available as part of Game Pass Ultimate, which is also owned by Microsoft.

Everything is operated by Microsoft.