Instead of spending on datacenter facilities, financial institutions are spending on datacenter services. They are moving from capex to a monthly opex.
"They're still going to spend on IT, but they don't want to spend on building datacenters," said Daruwala. "Somewhere, somebody will have to buy it and provision for it, but it's not on the bank's asset books," he said.
"It's what we call the funny money," said Daruwala.
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