Microsoft reports 10% quarterly profit growth amid huge AI investment

Microsoft’s quarterly profit grew 10% from the same time last year (Charles Rex Arbogast/AP)

Microsoft Corp said on Wednesday that its profit for the October-December quarter grew 10% from the same time last year as it works to capitalise on the huge amounts of money it has spent to advance its artificial intelligence technology.

But while its overall profits and revenue beat Wall Street expectations, it slightly missed projections for its closely watched cloud computing business, a centrepiece of its AI efforts.