Microsoft says OpenAI is driving 45% of the backlog for Azure cloud computing

"Remember this was a nonprofit, and I think Bill even said, 'Yeah, you're going to burn this billion dollars,'" Satya Nadella said of Microsoft's $1 billion investment into OpenAI in 2019.

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• Microsoft shares slid after hours, despite the company beating earnings expectations for its Q2.
• Analysts pressed CEO Satya Nadella and CFO Amy Hood about Azure's slowing revenue growth.
• Wall Street also seems worried about how much the Azure backlog is based on OpenAI.