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Microsoft shares surge after it signals higher capital spending
The software giant said its backlog rose 8% from the prior quarter, supported by customers other than major artificial intelligence companies.
Microsoft shares jumped about 7% after the company outlined plans to increase capital spending, pointing to demand for its products and services, according to CNBC Markets.
CNBC World reported that Microsoft’s backlog grew 8% from the previous quarter, with the increase driven mainly by contributions from customers other than large artificial intelligence companies.
CNBC Earnings similarly tied the stronger demand picture to the company’s backlog improvement, which suggested more orders beyond its largest AI-related customers.