Microsoft's Quarterly Profit Rises 20% as Tech Giant Pushes AI

Microsoft reported a 20% increase in profit for the January-March quarter, driven by strong demand for its cloud computing services and productivity software as the company pushes to incorporate artificial intelligence (AI) into its products. The company’s revenue from its cloud computing unit Azure grew 27%, while revenue from its Office productivity software, which includes Word, Excel, and Outlook, increased 11%. Microsoft is investing heavily in AI and has announced plans to incorporate it into many of its products, including Office software, cloud services, and internet search. The company’s AI efforts include a multibillion-dollar investment in OpenAI, the startup behind ChatGPT. Microsoft is also working on AI models that could be commercialized through its cloud computing services. The strong results reflect Microsoft’s position as a leading provider of cloud computing and productivity software, and its efforts to stay ahead of the curve by incorporating AI into its offerings.

Source: https://abcnews.go.com/Business/wireStory/microsoft-quarterly-profit-rises-20-tech-giant-pushes-109649204