Microsoft reports 10% quarterly profit growth as it works to show AI investments paying off

REDMOND, Wash. (AP) — Microsoft Corp. said Wednesday that its profit for the October-December quarter grew 10% from the same time last year as it works to capitalize on the huge amounts of money it has spent to advance its artificial intelligence technology.

But while its overall profits and revenue beat Wall Street expectations, it slightly missed projections for its closely-watched cloud computing business, a centerpiece of its AI efforts.

The company reported net income for the…