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Microsoft has investors really freaking out about Big Tech's AI spending

Microsoft's shares dropped in late trading after its Azure revenue growth disappointed even as the company continued to pump cash into AI.

The results came as companies, including Microsoft, are under the spotlight as they spend heavily on artificial intelligence but are yet to show explosive sales growth from the relatively new tech. Further Big Tech earnings this week, including Meta, Amazon, and Apple, will likely attract a similar line of questioning. Roughly half was for infrastructure needs — like building and leasing data centers; the remaining cloud and AI-related spend was primarily for servers, both CPUs and GPUs, execs said.

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