Microsoft reported a 7% increase in profit for the January-March quarter, buoyed by a steady demand for its cloud computing services and productivity software as the company attempts to capitalize on the artificial intelligence (AI) revolution. The company reported quarterly earnings of $18.3 billion, or $2.45 per share, beating Wall Street expectations. Revenue rose 7% to $52.9 billion. Microsoft has scrambled to infuse AI into many of its products and services, including a new AI ‘copilot’ for its Microsoft 365 suite of productivity software that can draft, edit, and summarize documents. The company is also integrating AI into its cloud computing services and its Internet search engine, Bing. Investors are closely watching Microsoft’s AI moves as it competes with rivals like Google and Amazon. Microsoft’s cloud computing business grew 27% from the same period a year earlier to $22.1 billion.