Record Revenue Growth for Cloud Infrastructure in Q4: An Unprecedented Surge
In recent quarters, the cloud infrastructure market has experienced slower growth than usual. However, this trend shifted dramatically in the fourth quarter of 2023, largely fueled by the surge in interest surrounding generative AI. This new revenue influx began just a year ago with the hype around ChatGPT, propelling cloud infrastructure revenue to a remarkable $74 billion this quarter—an increase of $12 billion year-over-year and up $5.6 billion from Q3, marking the largest quarter-over-quarter growth in the cloud market, according to Synergy Research.