News Summary

• Azure and Google Cloud are posting jaw-dropping growth numbers just as Treasury yields hit levels that have historically crushed high-multiple tech stocks.
• Whether Microsoft's fortress balance sheet or Alphabet's cheaper valuation wins this rate-scare showdown could determine which mega-cap compounds.
• Microsoft’s fiscal Q4 delivered revenue of $90.01 billion, up 17.8%, with Intelligent Cloud jumping 32% and Azure growing 43%.
• Satya Nadella called out that “Azure revenue surpassed $100 billion for the first time, and Microsoft 365 Copilot reached over 30 million paid seats”