AI Investments to Lift Hyperscale Cloud Capex 17 Percent in 2024, According to Dell’Oro Group

After growing just 4 percent in 2023, worldwide data center capex is projected to rebound to double-digit growth this year,” said Baron Fung, Sr. Research Director at Dell’Oro Group. While accelerated computing for generative AI applications will be the front-runner in data center investments, we expect a modest recovery in general-purpose servers and storage demand following a period of steep correction.