Microsoft forecast on Wednesday a record $30 billion in capital spending for the current fiscal first quarter, after booming sales in its Azure cloud computing business showcased the growing returns on its massive bets on artificial intelligence.

Microsoft’s Azure cloud revenue grew 39% in Q4, beating expectations with sales above $75 billion annually. The company’s AI investments, including its OpenAI partnership, drive growth but face renegotiation challenges.

The company’s results are likely to ease investors’ worries that big investments in artificial intelligence aren’t paying off.