Microsoft's Azure Revenue Surges, Driven by AI Investment
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Microsoft's earnings report revealed a significant 18% increase in revenue to $90 billion for the quarter ending June 30, with net income climbing 31% to $35.8 billion. The company's cloud business, Azure, contributed to this growth with a 27% increase in revenue to $59.3 billion. This strong performance was largely attributed to Microsoft's substantial investment in AI, with the company committing over $130 billion to new data center leases to meet growing AI demand. Microsoft's shares rose about 2% after hours, reflecting investor confidence in the company's AI strategy.
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