On November 19, Jinshi Data reported that Canalys released a report stating that in the third quarter of 2024, global spending on cloud infrastructure services rose 21% YoY to $82 billion. Investment in ultra-large-scale enterprise AI products by customers drove the rise, prompting leading cloud providers to increase their investment in AI. The rankings of the top three cloud providers, AWS, Microsoft Azure, and Google Cloud, remained stable compared to the previous quarter, with the three accounting for 64% of the total expenditure, and their total expenditure rose 26% YoY.
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Global cloud infrastructure services spending in Q3 2024 increased by 21% year-on-year
On November 19, Jinshi Data reported that Canalys released a report stating that in the third quarter of 2024, global spending on cloud infrastructure services rose 21% YoY to $82 billion. Investment in ultra-large-scale enterprise AI products by customers drove the rise, prompting leading cloud providers to increase their investment in AI. The rankings of the top three cloud providers, AWS, Microsoft Azure, and Google Cloud, remained stable compared to the previous quarter, with the three accounting for 64% of the total expenditure, and their total expenditure rose 26% YoY.