Microsoft's earnings are increasingly a proxy for enterprise AI spending: Azure, Copilot seats and the capital expenditure required to keep both supplied with compute. Founded in 1975 and headquartered in Redmond, Washington, Microsoft Corporation employs approximately 228,000 people.
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Hyperscalers are issuing debt at unusual scale to finance data-centre expansion, pushing AI investment beyond equities and into credit spreads, duration and refinancing risk.
AI neoclouds are borrowing heavily to build GPU infrastructure. We compare CoreWeave, Nscale and peers with the telecom fibre boom of the late 1990s.
Software shares fell after GPT-6 Astra while Qualcomm and other AI-infrastructure names gained. We explain the market split between AI disruption and AI spending beneficiaries.
OpenAI is private, but GPT-6 Astra affects public stocks through Azure, AWS, AI infrastructure and software competition. We map the clearest listed-company exposures.
Crusoe reportedly raised more than $3 billion at a $30 billion valuation. We examine what the funding says about AI neoclouds, power, debt and IPO economics.
A guide to the Q3 2026 earnings calendar — key reporting dates, consensus EPS estimates and the guidance lines that move markets.