Despite working with Microsoft for 34 years, CEO Satya Nadella said that each year he feels more excited at the prospect of working with the tech giant with a sense of purpose and mission.

Long story short, an enormous amount of capital is rapidly being spent on AI data centers and the necessary equipment to train and run powerful AI models, particularly graphics processing units (GPUs) from Nvidia (NASDAQ: NVDA).

Microsoft on Wednesday unveiled its new Majorana 1 chip, which Satya Nadella described as a "breakthrough" in quantum computing.