Can you name anything that’s destined to reach more than a trillion dollars in less than a decade? (Besides food-delivery fees, of course.)
Bloomberg released generative AI forecasts last month, and its proprietary market-evaluating model has gen AI becoming a $1.3 trillion market by 2032 “as it boosts sales for the tech industry’s hardware, software, services, ads and gaming segments at a compound annual rate of roughly 43%.”
Bloomberg says the training and hardware markets will also grow quickly by 2032, reaching $470 billion and $640 billion, respectively, while software spending is forecast to grow 71% a year from 2022 (adding $318 billion).
(Source: Bloomberg)
“The use of semiconductor accelerators should broaden as more companies ramp up investments in building their own large-language models (LLMs) similar to Meta’s Llama, Alphabet’s Gemini, and OpenAI’s ChatGPT,” the Bloomberg article says. “Servers and storage may be the most prominent segments in the short run, as companies build out AI infrastructure to handle increased computational requirements. Eventually, most companies may look to the public cloud to deploy their generative-AI workloads.”
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