How did Microsoft's cash purchases of property and equipment change between FY2024 and FY2025, and what does that imply about its AI infrastructure investment? Show the comparison in a sourced chart?

Evidence(3)

1. 

   FY2024: Property and equipment investment accelerated

   [3]

   30 Jun 2024

   For the fiscal year ended June 30, 2024, Microsoft reported that additions to property and equipment increased by $16.4 billion versus FY2023 and expected capital expenditures to support cloud growth and AI infrastructure and training.

   1

   Microsoft's FY2024 annual report reported a $16.4 billion increase in additions to property and equipment and expected capital expenditures to support cloud offerings and AI infrastructure. This provides the prior-year baseline showing that FY2025 represented a further acceleration rather than the beginning of infrastructure investment.

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2. 

   FY2025: Cash property and equipment purchases reached $64.551 billion

   [1][2]

   30 Jun 2025

   For the fiscal year ended June 30, 2025, Microsoft reported cash additions to property and equipment of $64.551 billion, compared with $44.477 billion in FY2024. The increase was $20.074 billion, or 45.1% calculated from the reported values.

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3. 

   FY2025 Q2: Management described the AI asset mix and capacity outlook

   [4]

   Date unavailable

   During Microsoft's FY2025 Q2 earnings call, management said more than half of cloud and AI-related spending was on long-lived assets intended to support monetization over the next 15 years and beyond, with the remainder primarily for servers, CPUs and GPUs. Management also expected Microsoft to be AI-capacity constrained in Q3 but roughly in line with near-term demand by the end of FY2025 after significant capital investment.

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