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Breaking Analysis: Cloud optimization wanes as AI slowly lifts off
February 17, 2024
Cloud spending has surged in the past 2 years due to economic factors and resource optimization. The top 4 hyperscalers, including Azure, made between 170-190 billion in revenue last year, with an 18-19% growth rate. IT decision makers are cautiously optimistic about spending in 2024. While cloud optimization is slowing, cost-cutting continues. AI's contribution to revenue remains relatively small, but AI projects are funded by reallocating budgets. AWS and Azure lead in the growth rates for AI. Retail customers prioritize cloud optimization, while AI will dr...Read more