Sales at Microsoft have surged as the technology giant cashes in on the artificial intelligence (AI) gold rush in a race against Silicon Valley rival Google.
Revenues at Microsoft jumped 13 per cent to $US56.5 billion as boss Satya Nadella claimed the company was “making the age of AI real”.and launched a series of AI-powered tools for its Office and Word products in recent months.Sales at its cloud internet arm, which underpin the artificial intelligence efforts, were up 24 per cent. Profits at the tech giant climbed 27 per cent to $US22.3 billion in the three months through September.
Revenues climbed 11 per cent to $US76.7 billion with net income of $US19.7 billion on the back of a recovery in digital advertising revenues.However, its closely watched cloud division, which houses its data storage business and many of its AI efforts, missed Wall Street expectations. Both Google and Microsoft have been rapidly adding AI technology to their products as customers race to adopt the new technology.Collectively worth more than $US4 trillion, the results for Microsoft and Google will be seen by investors as a bellwether for the state of the US technology sector and the appetite for further spending on artificial intelligence.
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