The company also forecast sales and cloud growth that beat expectations for its current fiscal first quarter, after it also topped Wall Street estimates for quarterly cloud revenue growth in its fiscal fourth quarter ended June 30.

Microsoft’s Azure grew 43% and passed $100bn for the year, its backlog hit $678bn, and the stock rose 2%. But AI capital spending keeps climbing.

July 29 : Microsoft on Wednesday said it expects to keep generating cash through its just-started fiscal 2027 and gave a capital expenditure forecast below Wall Street estimates…