Microsoft Azure is facing a significant outage, with services affected like Microsoft 365, Xbox, and Minecraft.

Microsoft's Azure platform and other company services are experiencing an outage that started around 12:00 p.m. Eastern time on Thursday. The company reported that the outage was triggered by "an inadvertent configuration change" that impacted the Azure Front Door delivery network.

As Azure crumbled, Microsoft laid out its latest 40% growth rate numbers to show how well the platform is doing

Microsoft and OpenAI announced the long-awaited details of their new partnership agreement Tuesday morning — with concessions on both sides that keep the companies aligned but not in lockstep as they move into their next phases of AI development.

The most important number in Microsoft's earnings call could be its Azure forecast, particularly as investors assess the sustainability of cloud growth and the company's ability to meet demand in the face of supply constraints.

The company is seeing more demand for its cloud computing and AI services than it can keep up with, a challenge that is supercharging profits.