Microsoft reported better-than-expected fiscal first-quarter results, driven by growth in its cloud computing and PC businesses. The company’s revenue rose 13% to $56.5 billion, exceeding analysts’ estimates. Revenue from its Intelligent Cloud unit, which includes its Azure cloud-computing platform, grew to $24.3 billion, surpassing expectations. Microsoft’s strong messaging on its AI technology is attracting companies to consider them more seriously. The company’s capital expenditures for AI software are expected to exceed $44 billion this fiscal year.
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