Microsoft (MSFT) told analysts it will lift fiscal 2026 capital expenditures to roughly $82B, a $15B increase year over year, to fund an aggressive buildout of GPU capacity for Azure OpenAI workloads. CFO Amy Hood said the company expects AI-related revenue to 're-accelerate' in H2 as new capacity comes online.
The announcement comes amid intensifying competition with Amazon Web Services and Google Cloud. Microsoft also confirmed it has exercised an option to increase its equity stake in OpenAI, though the size was not disclosed.
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