Microsoft's Azure cloud-computing business delivered another quarter of blockbuster growth on Wednesday, powering revenue above Wall Street's expectations and showcasing the growing returns on its massive artificial intelligence bets.

Microsoft Corp. said it will spend more than $30 billion in the current quarter to build out the data centers powering its artificial intelligence services.

Azure's performance places Microsoft firmly behind Amazon Web Services, which remains the global leader in cloud infrastructure with annual revenue exceeding $111 billion. However, Azure's growth