Revenue also increased by 17 percent to $81.3 billion, which is about a billion more than what analysts projected. Some analysts had predicted the stock drop, citing the uncertainty over Microsoft’s AI spending. In the latest earnings, Microsoft boasted it had more than $625 billion in contracts for its cloud business that it still needed to fulfill. Microsoft 365 Copilot, the business-focused version of its chatbot integrated into its apps like Word, had 15 million annual users, the company just revealed. “As an investor, when you think about our capex, don’t just think about Azure, think about Copilot,” CEO Satya Nadella said on a call with analysts, as quoted by the Financial Times.