# Microsoft Leases, Amazon Builds

> Big Tech earnings reveal stark AI infrastructure split: Microsoft leases, Amazon builds.
- Title: Microsoft Leases, Amazon Builds · BigGo Finance | Shortify
- Summary: Big Tech earnings reveal stark AI infrastructure split: Microsoft leases, Amazon builds. Microsoft's AI leasing strategy shows strong cash flow while…
- Keywords: microsoft, amazon, ai infrastructure, capital spending, azure, aws, free cash flow, cloud computing, data centers, leasing strategy, construction strategy, finance
- Source: BigGo Finance — https://finance.biggo.com/news/4ce3eadb-99a2-42d2-897a-260c5f3c6e48
- Author: BigGo Finance
- Published: 2026-10-28T11:05:30+00:00
- Read time: 1 min
- Topics: microsoft, amazon, ai infrastructure, capital spending, azure, aws, free cash flow, cloud computing, data centers, leasing strategy, construction strategy, finance
## Microsoft and Amazon report results
Microsoft and Amazon report quarterly results for July through September one day apart.
## Divergent AI infrastructure strategies
Microsoft is lease-centric, renting data centers while Amazon is construction-centric, building its own.
## Market expectations
Microsoft expected revenue of $90.6-90.7 billion with net cash flow over $8 billion.
## Amazon's cloud growth
Amazon Web Services revenue growth expected at 38.2% despite slowing overall revenue.
## Capital spending differences
Microsoft signed $130 billion in data center leases versus Amazon's $54.2 billion capital expenditure.
## Uncommenced lease commitments
Microsoft's uncommenced long-term lease commitments stand at $329.1 billion versus Amazon's $137.2 billion.
## Investor focus
Investors track whether AI capital spending converts to revenue and cash flow.
## Microsoft's AI strength
Microsoft 365 Copilot paid accounts exceed 30 million with double net additions.
## Amazon's AWS margin pressure
AWS contributes 60% of operating profit despite 21% of Amazon's revenue.
## Key takeaway

Microsoft's AI leasing strategy shows strong cash flow while Amazon's construction approach faces negative free cash flow.