Cloud revenue accelerates 21% to $76 billion for the latest earnings cycle

image via TechCrunch

May 3, 2024, 5:11 PM

The cloud infrastructure market is back with a vengeance, with growth of 21% in the first quarter of 2023. AI is driving this growth, as companies increasingly need the compute power and data management capabilities of the cloud to build and deploy AI models. Amazon, Microsoft, and Google are all seeing strong growth in their cloud businesses, and are investing heavily in AI-optimized infrastructure.

Read original article