Microsoft Corp. said its cloud-computing business will continue to grow slowly in the current quarter as the company struggles to build enough data centers to handle demand for its artificial intelligence products.

Revenue in Microsoft's 'Intelligent Cloud' segment was $25.5 billion for the quarter, an increase of 19 percent year-over-year (YoY). Within that, server products and cloud services revenue increased by 21 percent (Azure) and other cloud services grew 31 percent.

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.

Microsoft's capital expenditures hit $22.6 billion, above analysts' consensus estimate of $20.95 billion, according to data from Visible Alpha. Microsoft shares dipped 1.3% on news of the higher spending and slower growth relative to Wall Street expectations.

Microsoft has tested Wall Street's patience by plunking down huge amounts of cash in pursuit of profits from AI that have yet to satisfy investors.

Microsoft Corp. said its cloud-computing business will continue to grow slowly in the current quarter as the company struggles to build enough data centers to handle demand for its artificial intelligence products.

Microsoft reported slower-than-expected growth in its crucial Azure cloud business on Wednesday despite beating estimates for overall quarterly revenue, sending its shares down 4% in extended trading.