Spending on public cloud services is expected to hit another milestone, with businesses shelling out $18.3 billion in Q1 2022, a 17.2% year-over-year increase, driven primarily by public cloud services spend. This growth trend is reflected in the recent performance of Microsoft and Google's cloud units, with Azure experiencing its fastest quarterly growth rate in five quarters at 46%, while GCP saw 35% growth, slightly below analyst expectations. The cloud industry is seeing a growing trend towards consolidation, with colocation data centers facing increased competition from public cloud services. As organizations invest more in public cloud services, cost visibility becomes increasingly important to control costs, and teams can leverage plug-and-play cost monitoring solutions to achieve this. Additionally, the recent crypto crash has led to drops in GPU prices, which may impact the profitability of GPU mining. Furthermore, companies such as Amazon are expanding into new industries through acquisitions, while security concerns remain a top priority, with Log4j identified as an "endemic vulnerability" by the First Cyber Safety Review Board.