Microsoft’s AI bets boost cloud business, Alphabet yet to find silver lining

  • Microsoft Azure 29% revenue growth beats estimates
  • Google Cloud revenue growth slows, misses estimates
  • Alphabet shares drop 7%, Microsoft jumps 5%

Oct 24 (Reuters) – Google-parent Alphabet’s (GOOGL.O) cloud business suffered as long-time rival Microsoft’s (MSFT.O) took off in the September quarter, demonstrating early signs that the Windows maker’s investment in artificial intelligence was paying off.

Alphabet’s shares fell 7% in after hours trading on Tuesday. Microsoft’s rose 5%.

The drop in Alphabet’s shares, despite it

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