According to KPMG, the industry’s revenue is expected to rise by 85% in the coming year, up from 64% in the previous survey.
“That is a lot more hopeful than it was a year prior,” Gibson said. ” They anticipate a rise in capital spending and the stabilization of interest rates to boost the economy.
According to a recent client note written by Harlan Sur, an analyst at JPMorgan, major cloud data center operators are likely to continue investing heavily in the expansion of their AI infrastructure in 2024.