Enterprise spending on cloud infrastructure reached a record $143 billion in the second quarter of 2026, growing 43 per cent year on year at its fastest rate for eight years. The acceleration is largely attributed to demand for AI services, alongside organisations’ continuing need for flexible, scalable IT, and indicates that the cloud market has doubled after 11 consecutive quarters of faster growth.

Synergy Research estimates cloud infrastructure revenue totalled $500 billion over the preceding 12 months, with public IaaS and PaaS growing 47 per cent in the quarter and AI-specific cloud services rising 165 per cent. AWS, Microsoft Azure and Google Cloud generated 67 per cent of quarterly revenue between them; AWS held 28 per cent of the market, followed by Microsoft on 20 per cent and Google on 15 per cent, while the US market grew 49 per cent.