Microsoft stock continued its post-earnings decline, closing at $423.37 on February 2, as investors remain concerned about the potential returns on the company's massive AI infrastructure investments.

  • The company reported a $37.5 billion surge in capital expenditure (+66%), with 45% of its $625 billion remaining performance obligations (RPO) linked directly to OpenAI.
  • Despite booming cloud revenue exceeding $50 billion, analysts noted significant margin pressure stemming from the necessary AI infrastructure buildout, including proprietary Maia chips.
  • The stock is down over 10% since the earnings release, hovering near an eight-month low, though futures suggested modest gains on February 3.