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Its interesting in that here is potentially another $2B going into data centers, if you look at Google's results you see they spend 1 - 2B$ per quarter on data centers (so call it 5 - 8B$/year). Facebook, Amazon, and Digital Ocean as well.

The co-location business is practically toast though.

Back in the early days I felt sure that nobody would put their core business assets on computers that someone else owned and operated. After all if you have physical access you have all the access you need. Why put your business at the risk of one disgruntled AWS admin?

But time has proven my thoughts to be incorrect. I find that quite amazing.