Microsoft’s Ai Investment Stabilizes Its Cloud Business

Microsoft reported strong sales in its latest quarter, showing that its corporate customers have been shaking off jitters about spending heavily in the uncertain economy. The results also showed early signs that the company’s investments in generative artificial intelligence were beginning to bolster sales, most notably reversing what had been slowing growth of the company’s important cloud computing product. Microsoft had $56.5 billion in sales in the three months that ended in September, up 13% from a year earlier. Profit hit $22.3 billion, up 27%. Azure, Microsoft’s flagship cloud computing product, grew 29%, up from 26% in the previous quarter. More than 18,000 organizations are using Microsoft’s Azure OpenAI services.