Microsoft's slow cloud growth signals AI payoff likely to take longer

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Microsoft's slow cloud growth signals AI payoff likely to take longer - Business Standard

Quick Summary:

While overall Azure growth slowed, AI services accounted for a larger portion of the increase in revenue in the June quarter at 8 percentage points, compared with 7 percentage points in the previous quarter.

That followed a 29 per cent rise in the quarter ended June 30, which was below estimates of 30.6 per cent and marked a slowdown from the previous three months."The street doesn't have a lot of patience.

Microsoft said it would spend more money this fiscal year to build out AI infrastructure even as growth slowed in its cloud business, another sign the payoff from hefty investments in the technology may take longer than Wall Street had hoped.