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.

Microsoft on Wednesday forecast disappointing growth in its cloud computing business, sending its shares down 4.5% in after-hours trading as investors worry about big spending, elusive artificial intelligence revenue and competition from cheaper AI models from China.

Microsoft CEO Nadella expects a growth rate of 175 percent with AI business alone. The current figures are solid, but the outlook is weaker.