Enterprise Cloud Spend Jumped In Q4, Nudged Upward By AI
CIODIVE, Monday, February 5th, 2024
The power balance among AWS, Microsoft and Google Cloud shifted slightly as infrastructure services saw the largest ever quarter-over-quarter market expansion recorded by Synergy Research Group.
As annual enterprise cloud spend hurtled past the $500 billion threshold last year, AI investments began to feed growth in the infrastructure services market. The immediate impact on overall IT spend has been modest, according to analyst firm Gartner, but generative AI investments registered in cloud.
'It takes a lot to move the needle, but AI has done just that,' the SRG report said.