Battery Ventures State of OpenCloud Report 2024

Battery Ventures analyzes AI as the next major platform shift driving cloud infrastructure growth, with data center revenue accelerating from $4B in Q3'22 to $26B in Q2'24. Enterprise adoption is moving from experimentation to production, with cloud providers aggressively expanding capacity to capture an estimated $2T+ in incremental cumulative revenue by 2030. The report projects cloud giants' AI-driven annual recurring revenue (ARR) to grow from $45B in 2024 to $550B by 2030.