Microsoft will report its fiscal second-quarter results after Wednesday's closing bell, with investors focused on all things AI.

When Microsoft (NASDAQ:MSFT) posts second quarter results on Wednesday, investors will be looking at Azure cloud service growth, along with insights on the tech giant’s plan to compete with new entrants in the AI landscape.

Microsoft announces CoreAI, a strategy centering AI on Azure with new internal shifts. Analysts call it more evolution than revolution. Industry impact debated.

Microsoft has spent months touting a rebound in its Azure cloud business and its quarterly revenue forecast on Wednesday will show whether billion-dollar bets on artificial intelligence are propelling increased growth in its main profit engine.