Posted 2/2/2024, 3:15:28 PM
Cloud Boom: Generative AI Drives Record $74B Revenue in Q4, Microsoft Gains Ground on Amazon
- Cloud infrastructure revenue hit $74B in Q4 2023, up $12B YoY, the biggest quarterly increase ever
- Growth driven by interest in generative AI tools like ChatGPT
- Microsoft gained 2 percentage points of market share to reach 25%, likely due to OpenAI partnership
- Amazon still #1 with 31% market share but down 2 points
- Big 3 of Amazon, Microsoft, and Google now have 67% of the cloud infrastructure market