For the ongoing second quarter, Microsoft expects revenue to be between $96 billion and $97.1 billion, which implies a growth of 18.8% compared to last year. Analysts had projected the figure to be $95.6 billion.

Net profit slid 25% from a year earlier to $26.2bn, well short of expectations, though revenue rose to $127.6bn

The board authorized a new stock repurchase program. It permits buybacks of up to $150 million or 1 million shares over the next 24 months.

Microsoft rose 2.5% after its earnings, partly offsetting the impact. The Fed held rates unchanged, with two dissenting votes.

Azure revenue grew 48%, ahead of expectations. Capital expenditure of $45.2 billion drew attention as investors weighed Microsoft's AI infrastructure spending.

Anthropic's expected valuation has fallen from US$2 trillion to about US$1.5 trillion. The cost of AI processing has dropped 97 per cent over a year.

HOUSTON (AP) — HOUSTON (AP) — Patterson-UTI Energy Inc. (PTEN) on Wednesday reported third-quarter profit of $28.4 million. On a per-share basis, the Houston-ba

Anthropic warned in its IPO filing that open-weight models are gaining popularity. It said most companies may not need its frontier capabilities.