Global Cloud Service Market Forecast: 20% Growth in 2024, Leading Cloud Providers Increase AI Investments

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Published inAI News · 1 min read · Feb 27, 2024

Translated data: It is predicted that global cloud infrastructure service spending will increase by 20% in 2024, with leading cloud providers such as AWS, Microsoft Azure, and Google Cloud increasing their investments in generative AI. In the fourth quarter of 2023, global cloud infrastructure service spending grew by 19% year-on-year, reaching $78.1 billion. The cloud service market is highly competitive, with the top three providers accounting for 66% of total spending. Cloud migration efforts are accelerating again, with a surge in new demand, especially with the widespread adoption of AI applications.

Lenovo's Net Profit in Q2 Grows by 44% Year-on-Year, Driven by AI Investments

Recently, Lenovo Group announced its financial report for the second quarter of the 2023 fiscal year, showing that the company continues to maintain growth momentum supported by strong sales of smart devices. For the three months ending in September, Lenovo's net profit increased by 44% year-on-year to $359 million, slightly surpassing analysts' expectations of $355 million. As the world's largest personal computer manufacturer, Lenovo's ongoing investments in artificial intelligence technology are gradually showing results. Company executives stated that they are committed to launching AI-powered personal computers.

Prediction: CIOs Will Significantly Increase AI Investments, Reaching $337 Billion by 2025

According to the latest forecast from research firm IDC, global spending on artificial intelligence (AI) technologies is expected to reach $337 billion by 2025, and this figure is projected to double to $749 billion by 2028. As IT leaders across industries continue to drive the implementation of AI strategies, future application scenarios will be increasingly diverse. Image source credit: Image generated by AI, image provided by licensing service provider Midjourney. In line with this trend, more and more companies are starting to experiment with generative AI.

AvePoint Launches AI Lab in Singapore, Targeting Global Market

AvePoint, a global leader in data management and governance solutions (NASDAQ: AVPT), announced today the official establishment of an AI lab with the support of the Singapore Economic Development Board (EDB). This strategic move will significantly advance innovative research in the fields of artificial intelligence and machine learning, further enhancing the AI capabilities of the AvePoint Confidence platform. The newly established AI lab will serve as a globally influential R&D center. Over the next three years, the lab plans to recruit more than

The 2024 Explosion of the AI Application Market: Revenue Soars 51% from January to August, with ChatGPT Remaining in First Place

The global AI application market experienced explosive growth in 2024, with total revenue expected to reach $3.3 billion, a year-on-year increase of 51%. North America contributed the most, accounting for 47% of global revenue. India became the largest market in terms of downloads, capturing 21%. ChatGPT emerged as the market leader, with over 160 million downloads from January to August and revenue nearing $230 million, alongside more than 190 million monthly active users. AI+Chatbot applications surpassed 630 million downloads, with revenue approaching $580 million, reflecting a 1.5% growth compared to 2023.