Microsoft Corp. said Wednesday that its profit for the October-December quarter grew 10% from the same time last year as it works to capitalize on the huge amounts of money it has spent to advance its artificial intelligence technology.

The tech giant’s revenue was up 12 percent to $69.6 billion, but investors are showing their nerves after a long boom for tech stocks.

Despite the overall positive results, Microsoft’s shares dropped by 5 per cent in after-hours trading on Wednesday. The decline came after a broader sell-off in tech stocks, spurred by growing concern