Why Microsoft Just Delivered Good News for Nvidia
Many investors were probably disappointed with 's (NASDAQ: MSFT) fiscal 2024 fourth-quarter update after the market closed on Tuesday. The tech giant didn't hit Wall Street's expectations for cloud revenue. As a result, its shares opened lower on Wednesday.
However, some investors were quite happy with Microsoft's latest quarterly update -- Nvidia (NASDAQ: NVDA) shareholders. Here's why Microsoft just delivered good news for Nvidia.
Microsoft executives spent a lot of time in the company's fiscal Q4 conference call discussing businesses with strong growth. Azure and other cloud services revenue jumped 29% year over year. Azure Arc hybrid and multi-cloud management customers soared by 90%. Azure AI customers increased nearly 60%. Copilot customers increased more than 60%.
Source Fool.com
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