https://techcrunch.com/2023/04/28/cloud-infrastructure-revenue-growth-dips-to-19-in-q1-but-still-hits-63b-for-quarter/

As expected, companies are continuing to cut back on their cloud spend where possible, as tech budgets continue to get careful scrutiny. That resulted in a quarter in which the cloud grew 19%, up $10 billion over last year to $63 billion. That doesn’t sound too terrible, except when you compare the numbers to last year when the market grew 32%.

Clearly we are still in a cost cutting cycle and it’s having an impact on cloud infrastructure revenue growth, but Synergy Research reports that there are signs that we could be coming out of the recent doldrums. Synergy’s chief analyst John Dinsdale says that overall the market remains solid, and we are starting to see a shift in some of the trends that have been contributing to the the downward growth.