Microsoft has begun disclosing standalone quarterly Azure sales figures, ending more than a decade of growth-rate-only reporting, and will collapse three reportable segments into two—Agents and Infrastructure, and Devices and Consumer—effective with fiscal first-quarter results this fall. Azure revenue reached $29.4 billion in the April–June quarter, below Amazon Web Services at $42.2 billion but ahead of Google Cloud at $24.8 billion, and totaled $101.9 billion for fiscal 2026, up roughly 33% from about $75 billion a year earlier and accounting for nearly one-third of total revenue; the company also retroactively disclosed eight quarters of Azure sales. Agents and Infrastructure merges cloud computing, AI-based and traditional enterprise software sales, while Devices and Consumer combines Windows, Xbox, Bing search, and LinkedIn advertising. CEO Satya Nadella said artificial intelligence is transforming what Microsoft builds and how it operates, blurring product boundaries and reorganizing business models. Management has guided constant-currency Azure growth of 44% to 45% for the first quarter of fiscal 2027, with Agents and Infra revenue of $75.15 billion to $75.75 billion and Devices and Consumer of $14.7 billion to $15.2 billion, leaving overall revenue, cost, and operating-expense outlooks unchanged. The overhaul, Microsoft’s largest segment restructuring since 2015, gives analysts a clearer dollar benchmark versus AWS and Google Cloud as investors track AI monetization.