Neoclouds: New GPUaaS Providers Project $7.36 Billion Market by 2026

Neoclouds, a new class of cloud providers, are focused on high-end GPU infrastructure for AI workloads, with core services offered under GPU as a Service (GPUaaS) at rates 2-7 times cheaper than traditional hyperscalers. As of 2026, the GPUaaS market is projected to reach $7.36 billion, up from $5.70 billion in 2025, with a CAGR of 29.12% through 2031. Key players include CoreWeave, Lambda, and Crusoe, which have transitioned from cryptocurrency mining to meet the growing AI demand. The validation of neoclouds as partners rather than competitors to hyperscalers could significantly impact the tech sector's infrastructure landscape.