Microsoft’s cloud growth accelerates, and so too does the spending

Microsoft’s cloud business is humming even as its spending to build out its AI business continues to be high. The software giant’s first-quarter earnings report Wednesday showed ample demand for its AI services, as Microsoft races to put more computing capacity online and as other parts of its business, such as legacy software and gaming, lag. The Redmond, Wash.-based company said first-quarter revenue totaled $92.3 billion, up 19% year-over-year and above what Wall Street analysts expected. Its profit was $36.6 billion, also edging out analyst predictions.

Source: Fortune Crypto