Microsoft revealed for the first time that Azure, the engine of its AI ambitions, now pulls in more than €65 billion a year — cheering investors. View on euronews

Microsoft soared past $4 trillion in market valuation on Thursday, becoming the second publicly traded company after Nvidia to surpass the milestone following a blockbuster earnings report.

Microsoft (NASDAQ:MSFT) soared past $4 trillion in market valuation for the first time on Thursday, becoming the second company to join the exclusive club along with AI giant Nvidia (NVDA). Redmond, Washington-based Microsoft was trading over 5% at $539.

Microsoft Corp. said it will spend more than $30 billion in the current quarter to build out the data centers powering its artificial intelligence services.

Microsoft's Azure cloud-computing business delivered another quarter of blockbuster growth on Wednesday, powering revenue above Wall Street's expectations and showcasing the growing returns on its massive artificial intelligence bets.

Microsoft significantly exceeded earnings expectations for the June quarter and disclosed its standalone annual Azure revenue for the first time — providing new clarity into how it stacks up against Amazon and Google in the cloud.

And both Meta and Microsoft were already on track to spend more than 30% of this year’s revenue on capital expenditures, compared with about 15% to 20% historically. Those outlays were already beginning to look like mere table stakes after Google parent Alphabet used its report last week to bump up its own capex spending plans for this year to $85 billion.