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Investors are watching Microsoft's Azure and Office revenues closely to see what sales flow from the money the company plans to pour into data centers to deliver generative AI.
Microsoft beat forecasts for its second-quarter revenue, as artificial intelligence features attracted customers to its Cloud and Windows services
Microsoft shares fell 1% in after-hours trading. Along with a rally in other tech stocks, including Alphabet and Nvidia, Microsoft helped fuel a 24% surge in the S&P 500 in 2023. Revenue at Microsoft's Intelligent Cloud unit, which houses the Azure cloud computing platform, grew 20% to $25.9 billion.
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Investors are watching closely to see what kind of sales flow come from the tens of billions of dollars the company is pouring into AI
(Reuters) -Microsoft beat market estimates for quarterly profit and revenue on Tuesday, as new artificial-intelligence features helped attract customers to its Azure cloud service as they built out their own AI services. But Microsoft shares were down 1% after-hours as investors absorbed news about rising costs to develop these AI features. Microsoft, in collaboration with ChatGPT creator OpenAI, has pushed chatbots into its core products such as its Office software and Bing search engine over the past year, attracting business customers eager to try the tech industry's next breakthroug...