By Brent D. Griffiths
Publication Date: 2026-01-29 01:40:00
Microsoft is facing capacity constraints, and OpenAI is driving a large portion of the backlog in its cloud computing business.
The company said its backlog in commercial bookings, a metric referred to as remaining performance obligations, ballooned 110% year over year to $625 billion when it reported earnings for the second quarter on Wednesday.
OpenAI accounts for roughly 45% of those commitments, Microsoft revealed. The company did not say how much OpenAI contributed during the previous quarter.
Some Wall Street analysts on the call expressed concerns about Microsoft’s dependency on OpenAI.
CEO Satya Nadella said acquiring more Azure clients is important to the tech giant, but it can’t come at the expense of neglecting its other services.
