Microsoft Stock Has Grown Roughly 15-Fold Since Satya Nadella Became CEO in 2014, a 27% Annual Growth Rate That Ended 14 Years of Near-Zero Growth. Can That Pace Continue Under Heavy AI Spending?

Microsoft Stock Has Grown Roughly 15-Fold Since Satya Nadella Became CEO in 2014, a 27% Annual Growth Rate That Ended 14 Years of Near-Zero Growth. Can That Pace Continue Under Heavy AI Spending?

By Will Healy, The Motley Fool
Publication Date: 2026-10-10 14:15:00

Few can dispute the success that Satya Nadella has had as CEO of Microsoft (NASDAQ: MSFT). Since he took the top job at the company in February 2014, its stock price has increased by about 1,360%. Factor in the value of reinvested dividends during that time, and Microsoft’s total return was about 1,670%.

Nonetheless, thanks to the massive capital expenditures required to stay competitive in the AI and cloud computing realms, its near-term outlook seems more unpredictable. Should investors expect lower returns in the years to come, or could that heavy spending maintain or accelerate this cloud stock‘s gains?

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Microsoft and AI

One…