.September 17, 2024 3:50 PM

Microsoft Corporation (NASDAQ:MSFT) has authorized a new share buyback program worth up to $60 billion and increased its quarterly dividend to $0.83 per share, a 10% rise from the previous quarter. The tech giant reported strong quarterly earnings in July, but saw a rise in capital expenditures due to increased investments in artificial intelligence (AI). Revenue from its Azure cloud division, crucial for AI initiatives, slowed down, but Microsoft anticipates growth to pick up by late 2025. The company, like other tech firms, is striving to showcase the value of AI investments, with its annual shareholders meeting scheduled for December 10.