Microsoft beats quarterly estimates as AI boosts cloud business and spending reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
(Reuters) -Microsoft on Tuesday laid out an aggressive spending plan to meet demand for its new artificial intelligence services after surpassing Wall Street estimates for fiscal fourth-quarter revenue and profit. Costs rose sharply as Microsoft built new data centers to support AI, and Chief Financial Officer Amy Hood said on a conference call with analysts the company's capital expenditures would continue rising each quarter throughout fiscal 2024. Wall Street is looking at how generative AI services may benefit Microsoft, which secured an early lead with investments in OpenAI, owner of the popular ChatGPT service.
Microsoft plans to bring Bing search to ChatGPT. The software giant also plans to watermark the AI content it generates, so users know it’s not human-made.
Microsoft Corp beat Wall Street s estimates for quarterly revenue and profit on Tuesday, driven by growth in its cloud computing and Office productivity software businesses, and the company said