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Tuesday, June 25, 2024

AI pushes quarterly cloud infrastructure revenue to $74B globally

Cloud infrastructure saw its biggest revenue growth ever in Q4

By Ron Miller, TechCrunch

For the last several quarters we’ve seen a lull in the expansion of the cloud infrastructure market, with lower growth numbers than we’ve been accustomed to seeing in the past. That changed this quarter thanks in large part to interest in generative AI. The new revenue wave began just last year, driven by the ChatGPT hype cycle, but has already pushed cloud infra revenue in the fourth quarter of 2023 to $74 billion, up $12 billion over last year at this time and $5.6 billion over Q3, the largest quarter-over-quarter increase the cloud market has experienced, per Synergy Research.

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