[Analyst: Microsoft's AI Development Will Pressure Azure's Short-Term Growth] According to Golden Finance, on April 4, analysts from TD Cowen wrote in a report that Microsoft is developing its own cutting-edge AI models, aiming for a launch in 2027. This will require significant computational power, which may limit the growth prospects of the company's Azure business. They pointed out that Microsoft's Chief Financial Officer has already stated that computational resources will be prioritized for internal research and development, and this shift may already be reflected in Microsoft's expectations for the current fiscal quarter. The analysts wrote: 'We do believe this will constrain upside potential and the ability for Azure growth to reaccelerate.' They anticipate that once the computational demands for training new models begin to ease, resources may be reallocated to Azure around mid-2027.