Despite a lingering recession, Microsoft isn't holding back when it comes to spending. According to Kevin Turner, Microsoft's chief operating officer, the Redmond giant will spend around $9.5 billion on research and development this year, which is about $3 billion more than the next closest tech company.
"Especially in light of the tough difficult macroeconomic times that we're coming out of, we chose to really lean in and double down on our innovation," Turner said.
Much of that investment will go towards the cloud, an area Turner sees his company becoming a leader in as it tries to "change and reinvent" itself. Turner also added that Microsoft will still maintain a significant on-premise software business, even as companies such as Google look to cloud-only software solutions.