WWT CEO On ‘Exciting’ AI Strategy, Cisco, Nvidia And 40 Percent Growth In 2023
World Wide Technology’s Jim Kavanaugh explains his $17 billion company’s massive sales growth in 2023 and WWT’s strategic moves around doubling down on AI.
Are you bullish on the market in the second half of 2023 and what are you doing to capitalize on it?
We are actually bullish on the market overall in the second half. There’s a couple of soft spots. But, the first half of the year has been really strong.
We’re over 30 percent to 40 percent growth in the first half—top line and bottom line. I think we will be there, and then some, by the end of the year.
We’re having a very strong year. We see the activity continuing. Normally, you see a little bit of a slowdown, even in August, but things look good across our space.
The enterprise and commercial market that we go after: we’ve had good growth there. The large banks and financial industry: we’ve had good growth there, both domestically and globally. Public sector has been good—both state, local government and federal. We see good activity going into the government’s fiscal year end. Then hyperscalers have been strong also.
Probably the only area that’s been relatively weak has been service providers. So your traditional service providers. They’re scrutinizing budgets.
But overall business is very strong across the board. We continue to see good activity going into the second half.