Microsoft’s heavy bet on AI pays off as it beats expectations in latest quarter

World's largest public company reports $61.86bn revenue after investing billions into artificial intelligence

Profits at Microsoft beat Wall Street's expectations as its heavy bet on artificial intelligence continued to bear fruit in the latest quarter.

The technology giant has invested billions of dollars into AI in a bid to turbocharge its growth, particularly of its cloud computing services. Its cloud computing revenue surged by more than 20%.