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The artificial intelligence (AI) revolution continues to defy all skepticism, and the industry received a big boost earlier this month when its best-known representative, Nvidia (NVDA), reported yet another set of impressive quarterly results. Given its positioning at the heart of AI tech, many market-watchers took Nvidia's blowout results to mean that there's more upside in store not just for chip specialists, but for the storage and data management services providers that house and cool their AI supercomputers, too.
According to industry forecasts, the AI server market is forecast to reach a market size of $177.4 billion by 2032, clocking a CAGR of 18% between 2024 and 2032. Further, IDC stats suggest that data center storage capacity is expected to grow at a CAGR of 18.5% from 10.1 zettabytes (ZB) in 2023 to 21.0 ZB in 2027, fueled largely by AI.