BNP Paribas analyst Stefan Slowinski highlights Google’s $920 million-per-month SpaceX cloud commitment as evidence of tight AI infrastructure supply, projecting Microsoft Azure growth could reach the mid-40% range. The firm retains a Buy rating with a $555 price target, citing potential Azure price hikes, sustained efficiency gains and improving Copilot feedback.
BNP Paribas analyst Stefan Slowinski projects that Microsoft Azure growth could accelerate into the mid-40% range if contract renewals reflect improved pricing, driven by sustained demand for AI infrastructure.
Google’s agreement to pay SpaceX about $920 million each month underscores a supply-constrained market for AI cloud services, signaling robust demand that could benefit Azure’s expansion.
Slowinski flagged the potential for Azure price increases on memory, CPUs and other components as renewals occur, while emphasizing that efficiency gains have already helped Azure surpass expectations in recent quarters.
BNP Paribas maintains its Buy rating and $555 target for Microsoft, noting that enterprise feedback on Copilot is improving despite slower rollout cycles across large customers.
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