The AI market hyperscalers can't reach
Every map of the AI market is drawn from the cloud out.
The cloud made AI tractable by making compute abundant and remote. For the sectors that most need transformation—manufacturing, energy, defense, healthcare, government—abundant and remote is the problem.
These sectors need AI where it doesn't exist yet: on the factory floor, the offshore platform, the classified network. Armada's $230M raise is a bet that compute has to go to the data. So is the $20B Cohere-Aleph Alpha merger, which explicitly targets every sector that can't route sensitive workloads through a hyperscaler.
The addressable market for cloud AI and the addressable market for AI aren't the same.
Explore the interactive chart on Sideband Lab.