Microsoft's AI boost helped cloud business outpace rivals Amazon and Google in latest quarter

Microsoft pointed to a surge in demand for artificial intelligence tools, even as some clients continue to focus on cost-saving projects.

Bernstein Research analysts led by Mark Moerdler said on Wednesday in a note to clients they viewed Microsoft's results as a sign that the software maker"has taken the AI mantel from Google, and that Azure could become a bigger and more important hyperscale provider than AWS." They noted the significance of Microsoft's capital expenditures rising to $11.2 billion from $10.7 billion in the prior quarter.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Microsoft's AI boost helped cloud business outpace rivals Amazon and Google in latest quarterLarge cloud vendors are still helping clients work through necessary cost cuts, but Microsoft Azure has gotten a boost from artificial intelligence
Source: NBCDFW - 🏆 288. / 63 Read more »

Amazon rallies on cloud recovery as it chases Microsoft for AI businessAmazon rallies on cloud recovery as it chases Microsoft for AI business
Source: Investingcom - 🏆 450. / 53 Read more »

Amazon rallies on cloud recovery as it chases Microsoft for AI businessAmazon.com rallied 5% on Friday on strong growth at its most profitable cloud business as it aims for a larger share of the booming artificial intelligence market in a race with Microsoft.
Source: Reuters - 🏆 2. / 97 Read more »