Cloud Infrastructure Revenue Approached $80 Billion This Quarter
TechCrunch, Friday, August 2nd, 2024
With AI propelling the market forward
The cloud infrastructure market has put the doldrums of 2023 firmly behind it with another big quarter. Revenue continues to grow at a brisk pace, fueled by interest in AI. Synergy Research reports revenue totaled $79 billion for the quarter, up $14.1 billion or 22% from last year.
This marked the third consecutive quarter that year-over-year growth was 20% or more and AI was a big part of that growth, according to Synergy.