Microsoft shares fall after the publication of the quarterly report despite the rapid growth of AI

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

Here's What We Know

The company's revenue exceeded analysts' expectations and amounted to $56.2 billion. However, the latest earnings report showed a slowdown in revenue growth for the Azure cloud service: 26% compared to 27% in the previous quarter.

According to the company's CEO Satya Nadella, Microsoft is still focused on "the new AI platform shift". In recent months, the corporation has significantly strengthened its position in this area.

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

Source: The Guardian