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Cloud revenue accelerates 21% to $76 billion for the latest earnings cycle
The numbers are in, and the cloud infrastructure market grew at a brisk pace this quarter driven by increasing interest in generative AI.
If you’re wondering what’s driving the growth, you probably guessed that it’s related to generative AI and the copious amount of data required to build the underlying models. “In terms of annualized run rate, we now have a $300 billion market, which is growing at 21% per year,” Synergy’s chief analyst John Dinsdale said in a statement. As companies’ continuing thirst for AI and the data management related to that grows, it seems that the cloud glory days are back.
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