Microsoft posted its fiscal first-quarter earnings after Wednesday's closing bell, joining Alphabet and Meta on a packed afternoon for Big Tech results. While the headline results impressed, Microsoft ended up spending way more on capital expenditures like chips than analysts were anticipating.

Internet users were left in the dark Wednesday as problems with Microsoft services triggered widespread outages across popular sites, like Xbox, Kroger, and Starbucks. Tens of thousands of users reported experiencing outages with Microsoft Azure, the tech giant’s cloud platform, Wednesday afternoon, according to DownDetector.

With a new OpenAI partnership in hand, Microsoft is going into its earnings report Wednesday afternoon with a resolution to one of the biggest questions about its business.