Microsoft’s Cloud Services and AI Propel Growth, Earning Over $35 Billion in Revenue

During the last quarter, Microsoft’s cloud services division experienced significant growth, surpassing overall turnover and contributing to the majority of the tech group’s revenues. The company also reported a 20% increase in profits, with cloud services generating over $35 billion in revenue and a 21% increase from the previous year.

Azure, Microsoft’s popular cloud service that allows businesses to develop AI applications using OpenAI technology, experienced a notable boost in revenue during the quarter. Azure sales increased by 31%, reflecting the growing demand for AI applications. Microsoft has a 49% ownership stake in OpenAI and has invested approximately $13 billion in the AI firm.

The success of Microsoft’s strategic investments in cloud services and artificial intelligence is evident, driving substantial growth and profitability for the company. As demand for these technologies continues to rise, Microsoft is well-positioned to capitalize on these opportunities and drive further success in the future.