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Microsoft Azure Tops $100B, OpenAI Advances Coding Agents, AI Chip Demand Drives Growth - AI News 2026-07-29

AIWednesday, July 29, 2026

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  • Microsoft is massively investing in AI, with Azure surpassing $100 billion in annual revenue and AI spending driving cash flow impacts. The company reported a 31.6% profit jump as it expands AI initiatives including popular applications like the AI-powered Copilot, now used as extensively as Teams and Outlook.[GeekWire][The New York Times][CNET]
  • Tech companies are increasing AI infrastructure investments: Eliyan secured $145 million at a $1 billion valuation to improve AI chip data processing, while Lam Research posted record quarterly revenue and raised its outlook due to surging AI chip demand, underscoring a booming AI hardware market.[Reuters][Yahoo Finance]
  • OpenAI demonstrated substantial efficiency gains in scientific computing using AI coding agents Codex and Claude Code, reducing runtime across eight projects. CEO Sam Altman also engaged US lawmakers discussing new AI models and potential risks from rogue agents, stressing AI safety and oversight.[AI News][Reuters]
  • Meta and Microsoft report soaring AI-related expenses as they ramp up AI development and infrastructure investments. This underscores the heavy financial commitments required to keep pace in the competitive AI landscape and scale AI capabilities.[Axios]
  • Regulatory progress in AI includes the FDA granting De Novo authorization to an AI system that quantifies coronary inflammation via CCTA exams, marking a breakthrough in AI-driven cardiology diagnostics. Additionally, Becker’s AI transparency law is poised to enforce greater transparency and accountability in AI usage.[diagnosticimaging.com][Mountain View Voice]
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