Microsoft's AI Business Set To Hit $10B Revenue Milestone In Q2: Satya Nadella Says It Is The 'Fastest Business In Our History'

Quick Summary:

Microsoft Corp (NASDAQ:MSFT) announced during its first-quarter earnings call that its artificial intelligence business is on track to surpass $10 billion in annual revenue run rate next quarter, marking the fastest-growing business segment in the company’s history.

What Happened: CEO Satya Nadella highlighted the rapid adoption of AI across the company’s product portfolio, emphasizing strong customer demand and widespread enterprise implementation.“AI-driven transformation is changing work, work artifacts and workflow across every role, function, and business process, helping customers drive new growth and operating leverage,” Nadella said during the earnings call.“Our AI business is on track to surpass an annual revenue run rate of $10 billion next quarter, which will make it the fastest ...

Price Action: Microsoft Corp’s stock closed at $432.53 on Wednesday, up 0.13% for the day.

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Author / Journalist: Kaustubh Bagalkote

Category: Technology

Markets: United States

Topics: Satya Nadella Markets MSFT Tech Benzinga US5949181045 News Equities Kaustubh Bagalkote Benzinga neuro Global

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 03:28:07 (20 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 345 words

Reading Time: 2 minutes read

Sentences: 13 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 23344919

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