Microsoft suffers $357 billion rout over AI spending fears

The company endured its worst trading day since 2020

Microsoft shares have suffered their largest decline in more than five years, falling 10% this week after the company reported record spending on artificial intelligence alongside slowing growth in its key cloud unit.

The stock closed at $433.50 on Thursday, down from $481.63 at the end of the trading two days earlier, wiping about $357 billion off the company’s market value in...