Microsoft shares fall in price after quarterly report despite rapid AI growth

The value of Microsoft's securities fell as the company reported a slowdown in the growth of certain parts of its business, despite the company's various investments in artificial intelligence.

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The company's revenue beat analysts' expectations to $56.2bn, but its latest earnings report showed a slowdown in revenue growth for its Azure cloud service, with 26% compared to 27% in the previous quarter.

According to the company's CEO Satya Nadella, Microsoft remains focused on "the new AI platform shift". The corporation has significantly strengthened its position in the industry in recent months.

At the same time, Google shares rose after the release of its earnings report. The company beat analysts' expectations and posted revenue growth, partly due to increased demand for cloud services, which is expected to grow as AI tools are introduced and adopted.

Source: The Guardian