WHAT HAPPENED TO $1 , 000 INVESTED IN MICROSOFT BEFORE ITS CLOUD AND AI BOOM ?

What happened: Satya Nadella became CEO in 2014 and shifted Microsoft (NASDAQ:MSFT) to a cloud-first model, with Azure passing $100 billion in annual revenue in fiscal 2026 and a 2019 OpenAI investment becoming roughly a 27% stake. Key numbers: Fiscal 2026 revenue $331.84 billion, up 17.79%. Net income $133.75 billion, up 31.34%. Why it matters: The article frames Azure growth versus capex as the deciding factor: the case strengthens if Azure outgrows spending and weakens if capex keeps rising while returns flatten. Management expects capex to rise again in fiscal 2027 and operating

Satya Nadella became CEO in 2014 and shifted Microsoft (NASDAQ:MSFT) to a cloud-first model, with Azure passing $100 billion in annual revenue in fiscal 2026 and a 2019 OpenAI investment becoming roughly a 27% stake.

The article frames Azure growth versus capex as the deciding factor: the case strengthens if Azure outgrows spending and weakens if capex keeps rising while returns flatten. Management expects capex to rise again in fiscal 2027 and operating