Microsoft crushed Wall Street's targets for its fiscal fourth quarter thanks to cloud computing and AI strength. Microsoft stock rose late.

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…