Spending on cloud services is about to hit another key tipping point

as business customers spent $18.3 billion

on cloud computing and storage infrastructure in the first quarter

(Q1) of 2022, up 17.2% year over year.

The total includes budgets on shared and dedicated infrastructure

A major driver of growth was spending on shared cloud infrastructure,

which made up $12.5 billion (68%) of the total.

That sub-category was also up 15.7% compared to Q1 2021,