Azure's performance places Microsoft firmly behind Amazon Web Services, which remains the global leader in cloud infrastructure with annual revenue exceeding $111 billion. However, Azure's growth

Microsoft's Azure platform outperformed expectations with $75 billion in annual sales, thanks to strategic AI investments. The growth showcases Microsoft's strong position in the cloud market, despite competition from Amazon.

Microsoft forecast on Wednesday a record $30 billion in capital spending for the current fiscal first quarter, after booming sales in its Azure cloud computing business showcased the growing returns on its massive bets on artificial intelligence.