Neoclouds Currently Growing by Over 200% per Year; Will Reach $180 Billion in Revenues by 2030

RENO, NV, October 13, 2025

New data from Synergy Research Group shows that neocloud revenues passed the $5 billion mark in Q2, having grown by 205% from last year. They are on track to exceed $23 billion in revenues for the full year. Synergy forecasts that they will reach almost $180 billion in 2030, growing by an average 69% per year. While neoclouds do face fierce competition, they benefit from targeting segments that are growing explosively. Neocloud plans and initiatives remain somewhat fluid, but in aggregate Synergy sees them steadily gaining market share in those high-growth target market segments. In terms of being a direct competitor to the traditional hyperscale cloud providers, CoreWeave is leading the group. While its focus and business model is different from the other neoclouds, OpenAI is the largest of the group and will remain a key player over the coming years thanks to its Stargate initiatives.

Neoclouds are new or emerging specialized cloud computing platforms that provide high-performance, GPU-centric infrastructure, primarily to support artificial intelligence (AI) workloads. Their main service offerings are GPUaaS, GenAI platform services and high-capacity data centers. Currently the main companies who are generating substantial revenues and making an impact on the market share rankings are CoreWeave, Crusoe, Lambda, Nebius and OpenAI. Thanks primarily to OpenAI, neocloud also includes SaaS-like subscriptions to advanced, generative AI chatbot services. Beyond these leading neoclouds, there is a long tail of companies that are either much smaller or in the early stages of launch. This includes companies like Altair, Applied Digital, Bitdeer, Core42, Core Scientific, DataRobot, Fluidstack, Hive Digital, HUMAIN, Hut8, IREN, Mawson, Northern Data Group, Nscale, TeraWulf, Together AI and WhiteFiber. Neoclouds are either relatively new start-up companies, or crypto miners that are transitioning to being providers of high-performance computing services. In terms of competition, the leading hyperscale cloud providers like Amazon, Microsoft and Google also provide GPU and GenAI services, but neocloud companies differentiate themselves by a tight focus on GPUs rather than offering a broad portfolio of cloud services, which they claim brings many benefits.

“There is a lot of hype around neocloud, Stargate and gigawatt campus developments, but when you work through the marketing smoke and mirrors and look at the underlying numbers, the growth rates and future market size are truly impressive,” said Jeremy Duke, Synergy Research Group’s founder and Chief Analyst. “GPUaaS and GenAI platform services are currently growing at around 165% per year and neoclouds are gaining share in those high-growth markets. There is every reason to believe that they will continue to grow their market share, as cloud providers of all types struggle to match supply with burgeoning AI demand.”