Sales for the North American tech sector grew 7.2% year over year alongside a significant 15.1% EBITDA growth, reflecting a harmonized efficiency drive in 2023.
The bifurcation in the U.S. tech sector illustrates how a few large companies benefiting from cloud and AI are thriving, while others in mature markets face underperformance.
Despite concerns about interest rates and inflation, revenue growth is predicted to exceed 20% for leading cloud players by 2025 due to rising demand for AI and digital transformation.
Cloud service providers are transitioning from defensive spending to embracing new workloads, as enterprises are increasingly migrating on-premises operations to the cloud, signaling a shift in IT strategy.
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