Enterprise spending on cloud infrastructure services hit a new high in the second quarter of 2026, surpassing $143 billion for the quarter, according to figures from Synergy Research. That represents year on year growth of 43 percent, the fastest rate in eight years, and marks the eleventh consecutive quarter in which growth has accelerated. The market has effectively doubled in size over that stretch, with trailing 12 month revenues now totaling around $500 billion.
Public IaaS and PaaS platforms, which make up the bulk of the market, expanded by 47 percent in the quarter. Synergy chief analyst John Dinsdale attributes most of the incremental growth to AI workloads, noting that AI specific cloud services grew 165 percent year over year. He says that acceleration is mostly benefiting a handful of leading cloud providers along with the newer wave of GPU focused neocloud operators.
Big Three Tighten Their Grip
Amazon Web Services, Microsoft Azure, and Google Cloud together accounted for 67 percent of all cloud infrastructure revenue in the quarter, up from 63 percent a year earlier. AWS remains the largest single provider with 28 percent of the market, though its lead over Azure has narrowed, with Microsoft now holding 20 percent. Google Cloud sits in third place with 15 percent.
Among smaller providers, Synergy points to CoreWeave, Oracle, Crusoe, Nebius, and Nscale as the fastest growing. Oracle holds roughly 4 percent of the market and CoreWeave about 2 percent. A cluster of other companies, including IBM, Akamai, Baidu, China Mobile, China Telecom, China Unicom, Snowflake, Tencent, and SAP, each hold around 1 percent. Synergy also notes that nine dedicated GPU rental neocloud operators now rank among the top 40 cloud providers by service revenue.
Regional Trends
The United States remains by far the largest cloud market and is actually growing its share, with US cloud revenue up 49 percent in the quarter, well above the global average. Other markets growing faster than average include India, Indonesia, Ireland, Thailand, and Malaysia. Within Europe, the UK and Germany remain the largest cloud markets, while Ireland, Norway, Denmark, and Finland are the fastest growing.
For WordPress hosts and enterprise IT teams alike, the continued consolidation among the largest cloud providers, paired with rapid growth from AI focused neoclouds, suggests pricing and capacity dynamics in cloud infrastructure will keep shifting quickly as AI workloads scale.