Microsoft Azure growth accelerates as big tech races to fund AI infrastructure

Microsoft reports quarterly earnings Wednesday, with Azure revenue rising 42% under a new restated structure to $29.42 billion in the June quarter. The company guided Azure growth between 44% and 45% in constant currency for the current quarter and expects capital spending above $50 billion. Alphabet and Amazon follow with their own reports later in the week, underscoring heavy AI infrastructure spending across the sector.