Microsoft just published FY26 Q4.
Profits increased 31%， robust cloud growth， Azure cloud sales moved past $100 billion， grew 43% in the quarter.
Microsoft currently has the strongest financial cover with operating free cashflow， for its capex-spending.
Microsoft used roughly 65% of quarterly operating cash flow for cash capex and still produced $19.6B of free cash flow.
Comparing with Google Capex for the quarter
- Alphabet： $44.9B in cash capex
- Microsoft： $35.8B in cash capex
（Microsoft reported $41B of total capex， including lease-financed infrastructure）
So the top 3 AI infrastructure builders （Google， Microsoft， Meta） deployed ~$111B of cash capex in 1 quarter alone.
Just wrapped our earnings call. It was a very strong close to what was a record fiscal year for Microsoft. · Annual revenue: $331B, +18% · MS Cloud: $214B, + 27...