Revenue from Azure cloud business increased by 22% as company focuses attention on artificial intelligence
Microsoft reported better-than-expected earnings on Wednesday fueled by growth in its Azure cloud business, as five of the “Magnificent Seven” tech megacaps roll out quarterly earnings this week.
“AI-driven transformation is changing work, work artifacts, and workflow across every role, function, and business process,” the company’s CEO, Satya Nadella, said in a press release. On an earnings call, Nadella said Microsoft’s AI business was “on track to surpass an annual run-rate of $10bn next quarter, which will make it the fastest growing business in our history to reach this milestone”.
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