 "Microsoft outlook outage")
Microsoft on Tuesday laid out an aggressive spending plan to meet demand for its new artificial intelligence services after surpassing Wall Street estimates for fiscal fourth-quarter revenue and profit.
Costs rose sharply as Microsoft built new data centres to support AI, and Chief Financial Officer Amy Hood said on a conference call with analysts the company’s capital expenditures would continue rising each quarter throughout fiscal 2024. Shares fell about 4 per cent in after-hours trade.
Wall Street is looking at how generative AI services may benefit Microsoft, which secured an early lead with investments in OpenAI, owner of the popular ChatGPT service.
