Microsoft Azure is facing a significant outage, with services affected like Microsoft 365, Xbox, and Minecraft.

The company is seeing more demand for its cloud computing and AI services than it can keep up with, a challenge that is supercharging profits.

Microsoft's recent cloud-computing performance reflects that the company has been picking up market share at the expense of hyperscale rivals, according to Cantor Fitzgerald analyst Thomas Blakey. That's mainly driven by the company's artificial-intelligence advantages,