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Maroc Maroc - WN.COM - Business - 29/Jan 07:47

Microsoft capital spending jumps, cloud revenue fails to impress

Microsoft said it had spent a record amount on artificial intelligence in the last quarter and posted slower cloud-computing growth, worrying investors who had expected a major payoff from the outlay and its mega-deal with OpenAI. Microsoft's shares tumbled 6.5% in after-market trading on Wall Street last night after the company released its fiscal second-quarter financial results. The tech giant's strategic partnership with OpenAI, which plans to spend at least $281 billion with Microsoft, was once seen by investors as its strongest competitive advantage in the artificial intelligence race. But that has morphed into a possible drawback for the Redmond, Washington-based firm as Google's...

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