By Trefis Team
Publication Date: 2026-09-24 12:59:00
Microsoft’s next phase of growth may depend less on new customers than on serving the ones it has. The stock has run hard, returning 37% over three months against 5.0% for the S&P 500. At a market value of about $3.7 trillion, any new business must be large to move the shares. Will new data center capacity arrive fast enough to serve the demand Microsoft (MSFT) has already won?
Microsoft Aims To Double Its Capacity
Microsoft is adding capacity, and demand is still running ahead of it. Management said on the fiscal Q4 2026 call that demand continues to exceed available capacity. The company added another gigawatt of capacity in that quarter. It says it is on track to roughly double its overall capacity in two years.
Azure, Microsoft’s cloud platform, shows the first payoff. Azure and other cloud services revenue grew 43% in fiscal Q4 2026, against 17.7% for the whole company. Management said revenue growth was ahead of expectations. The company credited…
