Generative AI Drives Global Cloud Revenue Up 43%

Demand for the computing power needed to train and run generative AI models is accelerating spending on cloud infrastructure, including processing, storage and networking services. The expansion is reinforcing the scale advantages of Amazon, Microsoft and Google, which remain the market’s three largest providers, while creating room for specialized operators such as CoreWeave and AI developers including OpenAI to expand rapidly.

Global cloud infrastructure services revenue reached $143.4 billion in the second quarter of 2026, rising 43% from a year earlier, according to the latest data from Synergy Research Group. That marked the market’s fastest annual growth rate in eight years. Generative AI was the central driver, with revenue from specialized cloud services supporting the technology surging 165% year on year, while Amazon, Microsoft and Google retained the top three market-share positions.