CNBC
2024.02.12 13:30
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Microsoft's AI growth is helping cloud business chip away at Amazon's lead

Microsoft's cloud business is growing faster than Amazon Web Services, thanks in part to its focus on artificial intelligence (AI). Revenue at Microsoft's Azure increased 30% in the quarter, with six points of growth attributed to AI. Microsoft's close relationship with OpenAI has given it a perceived lead in the AI market. Azure now has 53,000 AI customers. As cloud infrastructure becomes a larger part of Microsoft's revenue, it is also contributing significantly to the company's profit. Gross margin in Microsoft's cloud group has widened from 42% to 72%.