Since the release of the ChatGPT chatbot in 2022, Microsoft has plowed more and more money into building data centers in what one industry analyst called “the largest infrastruc

After 10 consecutive quarters of increased spending for artificial intelligence, the company has tapped on the brakes, according to new financial results.

After 10 consecutive quarters of increasing its spending on artificial intelligence, Microsoft is deciding to slightly pull back its financial commitment to the burgeoning technology.

Microsoft (NASDAQ: MSFT) is up nearly 9% to $430.11 on the day. All thanks to strong earnings with third quarter adjusted EPS OF $3.46 a share on revenue of $70.1 billion. Meanwhile, analysts were only looking for adjusted EPS of $3.

U.S. technology-related stocks including many involved in artificial intelligence rose sharply on Thursday following stronger-than-expected results from Microsoft and Meta Platforms, while investors awaited results from Apple and Amazon.

Wall Street's main indexes jumped at the open on Thursday, powered by shares of Meta and Microsoft, as their strong quarterly results pointed to a resilient outlook for the technology sector.