Enterprise spending on cloud infrastructure in Q4 2025 skyrocketed by $12 billion quarter-on-quarter, according to new figures from Synergy Research Group.

This is double the reported increase between Q2 and Q3, and a $29bn (30 percent) increase over the same quarter in 2024. This is the ninth consecutive quarter of accelerating year-on-year growth.

Synergy also reported that revenue for cloud infrastructure services in 2025 reached a total of $419 billion, with the research firm estimating $119.1bn worth of revenue in Q4 alone.

Generative AI was listed as the primary driver of this growth, with public infrastructure-as-a-service and platform-as-a-service accounting for 34 percent of growth in Q4.

Amazon maintains a lead in this market, with 28 percent market share. However, Google and Microsoft are seeing higher growth rates, with market shares at 21 percent and 14 percent, respectively. Together, these three make up 68 percent of the public cloud market.

The research also claimed that CoreWeave has emerged as a top 10 cloud provider, generating more than $1.5 billion in quarterly cloud revenue.

Synergy said that cloud was growing strongly in all regions of the world, with above-average growth rates coming from countries in the Asia-Pacific region, such as Australia, India, Indonesia, and Taiwan.

Ireland, Mexico, and South Africa also saw above-average growth in 2025.

Despite significant growth in these markets, the US remains the largest with 30 percent growth in Q4.

“We said that Q3 market numbers were very impressive, but they pale by comparison with Q4. Growth rates like these have not been seen since early 2022, when the market was less than half the size it is today,” said John Dinsdale, chief analyst at Synergy Research Group.

“GenAI has simply put the cloud market into overdrive. AI-specific services account for much of the growth since 2022, but AI technology has also enhanced the broader portfolio of cloud services, driving revenue growth across the board. The leading cloud providers have all seen their revenue growth rates jump. Meanwhile, neoclouds remain relatively small compared with the leaders, but they too are now contributing meaningful incremental growth.”