Microsoft’s AI spending and disappointing cloud growth overshadow strong profits
Revenue rises 17% to a record $81bn, but 66% surge in capital expenditures revives debate about returns on vast AI costs
Related reading
Microsoft profits soar almost 25% on boom in cloud computing
US tech giant’s valuation set to pass $4tn as investors embrace plans to spend $120bn on artificial intelligence next year
Microsoft sheds $430bn in market value as AI spending spooks investors
Software group pulls Nasdaq lower after reporting 66% year-on-year surge in data centre costs
Google set to double AI spending to $185bn after strong earnings
Search giant reports more than $400bn in annual revenue for the first time
Amazon’s Andy Jassy bets on $200bn AI spending drive to revive AWS
Shake-up follows fears tech giant missed early AI boom as Microsoft and Google challenge cloud business
Intel shares jump 17% as it predicts revenue surge from AI data centres
US chipmaker reports better than expected revenue and financial guidance
Samsung forecasts record profit on AI boom
First-quarter earnings surge eightfold despite rising energy costs from Middle East war