In this article, we examine the technology acceptance of cloud computing by analyzing empirical data from 100 CIOs and IT managers from stock indexed companies using factor analysis. For a valid methodological background we use a modified version of the common Technology Acceptance Model. The outcomes indicate that user acceptance of cloud computing can be explained and predicted by various non monetary variables concerning social influence and cognitive instrumental process. In particular, factors such as image, job relevance and perceived usefulness play an important role in cloud computing acceptance. These findings advance theory and contribute to the foundation for future research aimed at improving our understanding of technology adoption behavior. They also provide a structured and more systematic approach for cloud service providers on how to build their services and promoting them to the market.