Microsoft Reports Rising Cloud Sales That Show Payoff From AI

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Microsoft Corp. posted increasing growth in its cloud business and kept its capital expenditures in check, satisfying investors amid a drumbeat of concern that spending on artificial intelligence won’t pay off. Sales at Azure, the closely watched cloud computing division, grew 48% to $33.2 billion during the quarter ending in September, the company said in a statement Wednesday. Overall revenue increased 19% to $92.3 billion.

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