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- Microsoft plans to boost spending on artificial intelligence and cloud services as demand rises.
- The company made $26.7 billion in revenue this quarter from cloud products, including Azure.
- Microsoft's spending commitment follows leaked plans to acquire 1.8 million AI chips this year.
Microsoft isn't slowing down its artificial-intelligence spending spree anytime soon.
In its third-quarter earnings call on Thursday, the tech giant said it would continue to invest in AI and cloud services because of growing demand and a rise in average spending on its cloud platform, Azure.
Amy Hood, Microsoft's chief financial officer, said on the call that capital expenditure — what a company spends on buying or maintaining assets — would increase "materially."