Microsoft posts more than $27 billion in profit thanks to AI and cloud computing boom

According to the company's financial report, Microsoft achieved a profit of 27.2 billion USD on total revenue of 76.4 billion USD; in which the intelligent cloud business segment contributed significantly with about 29.9 billion USD in revenue.

On July 30, the US technology corporation Microsoft announced business results that far exceeded expectations in the last quarter, achieving impressive profits thanks to strong growth in the fields of cloud computing and Artificial Intelligence (AI).

According to the company's financial report, Microsoft achieved a profit of 27.2 billion USD on a total revenue of 76.4 billion USD. Of which, the intelligent cloud business segment contributed significantly with about 29.9 billion USD in revenue.

Microsoft CEO Satya Nadella said the cloud and AI are driving business transformation across every industry and sector. He said the company is reinventing its entire technology stack to help customers adapt and thrive in this new era.

In Microsoft’s fiscal year ended June 30, its Azure cloud computing services generated more than $75 billion in revenue, up 34% from the previous year. Microsoft shares rose about 7% in after-hours trading immediately after the quarterly earnings report, reflecting a positive market reaction.

Wedbush Securities analyst Dan Ives said Microsoft is well-positioned to grow revenue as more companies leverage AI in their businesses.

Microsoft is one of the pioneering technology giants to step up investment in AI, especially after the launch of chatGPT in 2022 shook the technology industry.

Like its competitors, Microsoft has spent heavily on building the infrastructure needed to fuel the AI ​​revolution. In January, the company announced it would invest about $80 billion in capital and infrastructure this fiscal year.

In addition to infrastructure, Mr. Nadella said Microsoft is prioritizing finding enough power to meet the growing demands of AI data centers.

To accelerate its plan to deploy AI across all products, Microsoft said it is encouraging employees to take advantage of new technologies and capabilities to focus on meaningful work./.

(Vietnam+)

Source: https://www.vietnamplus.vn/microsoft-dat-loi-nhuan-hon-27-ty-usd-nho-bung-no-ai-va-dien-toan-dam-may-post1052922.vnp