Bloomberg Surveillance · Wednesday, July 29, 2026
Microsoft's cloud division, Azure, reported 43% top-line growth, which analysts are closely watching to see if it keeps pace with the company's significant capital expenditure (CAPEX) increases, projected to exceed 50% for next year. The company also highlighted strong traction with its Copilot AI feature, with paid seats more than doubling to 30 million since March.
“Top line growth on Azure is forty three percent, give or take XTAC. All the street really wants to see is that pace of growth being near to CAPEX growth.”
“Is the thirty million paid seats a big deal for three sixty five copilot for Microsoft?”
“Yes, because it's versus twenty million at the end of March.”