Microsoft’s slow cloud growth signals AI payoff will take longer

Quick Summary:

Microsoft said it would spend more money this fiscal year to build out artificial intelligence infrastructure even as growth slowed in its cloud business.

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.

Microsoft CEO Satya Nadella said that Azure AI was now used by more than 60,000 customers, up nearly 60 per cent year on year and that the average spend per customer continues to grow.

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Article Details

Author / Journalist: Reuters

Category: Technology

Markets: Hong KongMalaysia

Topics: Cent Revenue Cloud Azure Microsoft Billion Quarter Fiscal Growth Business Spending

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-31 @ 12:34:50 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 715 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21867423

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