The next generation of the general purpose service tier for Azure SQL Managed Instance is a major upgrade that will considerably improve the storage performance of your instances while keeping the same price as current general purpose tier. This will greatly improve the price-performance for your existing Azure SQL Managed Instance workloads and allow you to migrate more of your SQL workloads to Azure SQL Managed Instance. Key improvements in the next generation of general purpose storage include support for 32 TB of storage, support for 500 DBs, lower storage latency, improved storage performance, and the ability to configure the amount of IOPS (I/O operations per second).
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