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Microsoft’s Azure cloud revenue surges as AI spending pays off
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Microsoft’s Azure cloud-computing business delivered another quarter of blockbuster growth on Wednesday, powering revenue above Wall Street’s expectations and showcasing the growing returns on its massive artificial intelligence bets.
Shares of the software company rose more than 6% in extended trading after it said Azure sales surpassed $75 billion on an annual basis, the first time it has disclosed that figure. That beat expectations for $74.62 billion.
The business still trails market leader Amazon Web Services , which had an earlier start in cloud…
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