☁ Last week Sai Senthilkumar and I presented the Redpoint InfraRed Report on how cloud infra & AI have shaped software & public markets in 2024! ⬇ Here are 10 takeaways and the full report: 1. Public infra companies are guiding lower. Almost half of public infra companies lowered their guidance last quarter. 2. These new expectations are reflected in the data with declining NDR (119% > 116%) & new bookings growth (16% > 13%). 3. After slowing in Q2'22, growth is rebounding across all public clouds in the past 3 quarters (Q3'23 - Q1'24). Represents MASSIVE investments from enterprises to move businesses at this scale. 4. AI is major driver of increase in cloud spending. 5. "Generative AI is the single most significant platform transition in computer history." - Jensen Huang, CEO of Nvidia. We are at the early stages of a platform shift to AI, which will completely transform how we build applications. 6. Training and inference costs are down. Training costs down 10x: $600k to train stable diffusion in Sep'22 now costs < $50k. Inference costs down 10x: from $0.006/1k tokens for Curie generations in Jan'22 to $0.0005/1k in April'23. 7. AI is getting smarter, cheaper and more accessible. This is leading to an explosion in developers building AI applications and driving the need for AI-specific tooling. 8. Consolidation in the data stack is putting pressure on point solutions. Both Snowflake and Databricks have been very active on the acquisition front this last year, most recently with Databricks acquiring Tabular for $1B+. 9. Coding with AI is now mainstream. 76% of devs use or expect to use an AI coding assistant. 84% of developers using an AI coding assistant use ChatGPT. 10. Wave of consolidation in the security stack as well. The top 5 Cybersecurity Vendors acquired 33 companies. 👇 If you want to read on, check out the full report published here: https://lnkd.in/drvNbTXy 🙏 Also huge thanks to Kevin He and Tony Shi for their help with the report!
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