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The AI infrastructure spending cycle has reached a sorting moment for the biggest names in cloud computing.
Microsoft (NASDAQ: MSFT) climbed 26% in the period since the company reported fourth-quarter fiscal 2026 results after the close on July 29, a move driven in large part by a valuation that had compressed well below the stock's recent range heading into the report, and by a capex posture that stood apart from the broader hyperscaler group.
The quarterly figures offered a concrete reset. Microsoft's AI exposure runs through two channels: the Copilot productivity tool and the Azure cloud platform.
Copilot, which integrates with the Office productivity suite, crossed 30 million paid seats in the period.
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