Satya Nadella says Microsoft's Copilot AI is seeing massive use, growing "nearly 3x year-over-year" — but investors aren't convinced

Microsoft CEO Satya Nadella speaks during an event celebrating the 50th Anniversary of Microsoft on April 4, 2025 in Redmond, Washington.

Microsoft recently announced its financial earnings report for FY26 Q2, reporting $81.3 billion in revenue (up 17% YoY) and $38.3 billion in operating income (up 21% YoY). While impressive, investors have raised concerns about the software giant's spending on data centers and AI infrastructure.

Consequently, the company's shares fell about 6% in after-market trading after announcing its financials. Microsoft has spent $72.4 billion on capital expenditures so far, but CEO Satya Nadella insists that the company's spending on AI is actually paying off.