Microsoft's AI Strategy Yields Strong Results

Microsoft's third-quarter revenue exceeded expectations, reaching $61.9 billion, a 17% increase from the previous quarter and exceeding the forecasted $60.8 billion. The company's cloud computing revenue surged by more than 20%, with total revenue increasing 17% to $61.86 billion in the first three months of 2024. Microsoft has been investing heavily in artificial intelligence (AI) to drive growth, with its generative AI products being one of the first on the market. In contrast, Intel's first-quarter revenue was lower than expected, at $12.72 billion, with sales at its data center business rising only 5% to $3 billion.