Wall Street delighted with Microsoft as it spends $100bn on AI
Microsoft, the world's second-most valuable company, is investing heavily in artificial intelligence (AI) as its cloud business booms. The company's fiscal fourth-quarter results exceeded expectations, with investors delighted by the news. Microsoft reported a significant increase in capital expenditure, predicting it will top $100 billion in the next fiscal year, a 14% rise from the previous year. This investment is aimed at acquiring data centers and talent to support the company's AI efforts. The enterprise software giant's strong financial performance, particularly in its cloud business, has driven investor enthusiasm. Microsoft's focus on AI development and infrastructure expansion suggests the company's commitment to staying at the forefront of technological advancements.
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