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2026-09-24

Cloud Hardware Capex Climbs Toward $3,500bn by 2030E as AI Memory Value Share Tops 30%

Cloud Hardware Capex Climbs Toward $3,500bn by 2030E as AI Memory Value Share Tops 30%

Key points

Cloud providers' hardware capex and AI memory value share, 2022-2030E ｜ Memory share rises from pre-AI <10% to ~31% in 2026E and peaks near 60% in 2028E

Image source: @glocalinvestor