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Jefferies Says Microsoft Stands Out in Strong Cloud Spending as Azure Gains Market Share. What This Means for MSFT Stock.

Azure Jefferies Microsoft Microsoft Corporation Dan Ives LinkedIn Mayo Clinic

Global cloud infrastructure spending hit $129 billion in the first quarter of 2026, up 35% year-over-year (YOY), because companies are spending more than expected on compute, storage, and AI.

Big tech spending plans for 2026 just got bumped up from about $600 billion to approximately $750 billion after the latest earnings season. That is a 67% jump for the year, and 2027 projections are already closing in on $1 trillion.

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