With the proliferation of artificial intelligence (AI) and the data storage it requires, numerous industries are emerging as pick-and-shovel plays by providing essential ancillary services for the emerging technology. Those span industries from data centers and utility companies to electric infrastructure and cloud storage.
That last one—cloud storage—is critical to AI’s exponential growth. According to industry consultancy firm Grand View Research, the cloud computing market is forecast to grow at a compound annual growth rate (CAGR) of 20.4% from 2025 through 2030. Much of that has to do with AI's processing power and storage requirements.
