Good news for SharePoint users : You can now increase your SharePoint OneDrive for Business quota to 1TB from the default 25GB and previous limit of 100GB.
The way it works is you can specify which specific users you want to assign new upper quotas of 50GB, 100GB, 250GB, 500GB or 1TB quota. The catch to this is once you exceed the default quota of 25GB for a user you will be pulling storage out of your overall pooled tenant storage allocation (10GB + 500MB x total number of users) in your tenant.
The SharePoint site collection limit has also been upped from 100GB to 1TB max and the 25TB max SharePoint Online limit in a single tenant has been removed which means you can purchase as much pooled storage as needed in your tenant.
More on how to configure OneDrive for Business and site collection quotas here and here.
(Source)
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