Microsoft's $190 Billion AI Spending Under Spotlight July 29

Microsoft reports earnings July 29 after U.S. markets close. The company pledged $190 billion on AI infrastructure — about 27% of the $700 billion Big Tech collectively committed, per Bloomberg, matching Alphabet's spend. Think of it as buying massive factories before knowing if customers will come. Investors want proof Azure, Microsoft's cloud business, earns enough to justify that cost.