Rising cloud costs leave CIOs seeking ways to cope [Video]

Several factors, including price increases, a rush to adopt AI, inflation, and ongoing digital modernization efforts, are driving IT leaders to revisit cloud costs.

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If you’re stressing over cloud cost increases, you’re not alone.

Three out of every five organizations saw cloud spending increase in the past year, with nearly four in 10 who experienced price hikes saying their costs jumped by more than 25% — this according to a recent survey of IT professionals commissioned by cloud provider Civo.

Several factors appear to be driving cloud cost increases, including inflation, a rush to deploy compute-hungry AI, and energy costs, says Mark Boost, CEO of Civo, which bills itself as a low-cost competitor to the big three hyperscalers.

Some cloud providers also have “complex and opaque” pricing structures, Boost claims, adding that, in some cases, cloud providers charge customers for volumes that aren’t automatically removed when instances are deleted and for data transfers between cloud services and regions.

More workloads in the …