Microsoft's audited additions to property and equipment rose from $44,477 million in FY2024 to $64,551 million in FY2025 and $115,948 million in FY2026, with finance leases used heavily for large third-party datacenter shells. In July 2026 it moved to 25-year lease treatment and guided to $175 billion of reported capex for calendar 2026, below its prior $190 billion estimate, framed as accounting-driven rather than demand-driven. Its flagship North American commitment is more than $7 billion in Mount Pleasant, Wisconsin, alongside sites in Georgia, Texas, Arizona, Virginia and Washington. Microsoft is also the most heavily documented case of capacity pull-back, with up to about 2 GW of leases and LOIs cancelled or deferred per TD Cowen, about 1.5 GW of self-build frozen per SemiAnalysis, and a $1 billion Ohio project paused.
Named sites
16
Site commitments on record for Microsoft
Disclosed site capital
$13.6B
Named sites with a stated dollar figure. A floor, not a capex total
Disclosed capacity
2,000 MW
Named sites with a stated megawatt figure
Financing transactions
16
Transactions naming Microsoft or one of its sites
Prices tracked
108
108 confirmed on the provider's feed or page at the last check
Sources
75
Every cited page, listed below
MarketMarket data from TradingView, delayed
Spending
Reported and guided spending
Audited, reported and guided figures as the filing or release states them. Reported lines are what was spent, and guidance is what management expects. They sit side by side and are never combined.
| Period | Kind | Amount | As stated | Sources |
|---|---|---|---|---|
| FY2023 | reported | $28.1B | Audited additions to property and equipment, fiscal year ending 30 June |
|
| FY2024 | reported | $44.5B | Audited additions to property and equipment, fiscal year ending 30 June |
|
| FY2025 | reported | $64.6B | Audited additions to property and equipment, fiscal year ending 30 June |
|
| FY2025 finance leases | reported | $20.5B | Finance-lease right-of-use assets obtained, the mechanism Microsoft uses for large third-party datacenter shells; $3,128M in FY2023 and $11,633M in FY2024 |
|
| FY2026 | reported | $116B | Additions to property and equipment for the twelve months ended 30 June 2026, versus $64,551 million for FY2025; $35,802 million in the June 2026 quarter alone |
|
| FY26 Q4 | reported | ~$41.0B | Management on FY26 Q4 call: 'Capital expenditures were $41 billion including the impact from higher component pricing'; total finance leases $5.6 billion, primarily for large datacenter sites; cash paid for PP&E $35.8 billion; roughly two-thirds of Q4 capex for short-lived assets, primarily CPUs and GPUs |
|
| FY26 Q3 | reported | $31.9B | Capital expenditures of $31.9 billion, 'down sequentially due to the normal variability from cloud infrastructure buildouts and the timing of delivery of finance leases'; finance leases $4.7 billion, cash paid for PP&E $30.9 billion; quarter ended 31 March 2026 |
|
| FY26 Q2 | reported | $37.5B | Q2 FY26 capex was $37.5 billion |
|
| CY2026 | guidance | ≥$175B | Reported capex guidance of $175 billion for calendar 2026, below prior $190 billion estimate; lowered by spreading long-term datacenter leases over 25 years rather than 15; management says calendar 2026 investment expectations otherwise unchanged and FY27 capex will grow year-over-year |
|
| FY2027 Q1 | guidance | ~$50.0B | Expects reported capital expenditures of $50 billion for the fiscal first quarter of 2027 |
|
| FY2025 | guidance | ≥$80.0B | Microsoft said it intended to 'invest over $80 billion globally to expand its AI infrastructure in the current fiscal year, which concludes in June' (FY2025); stated as 'over' $80 billion |
Named sites
Where Microsoft builds
| Site | State | Place | Capital | MW | Status | Sources |
|---|---|---|---|---|---|---|
Mount Pleasant datacenter campus (Fairwater Wisconsin) with National Grid Renewables |
Wisconsin | Mount Pleasant, Racine County | ≥$7.0B | n.a. | construction | |
Goodyear data center campus |
Arizona | Goodyear | $1.5B | n.a. | expansion | |
Licking County project Pause announced after a late-December suspension of later Wisconsin stages |
Ohio | Licking County | $1.0B | n.a. | paused | |
Microsoft La Porte data center (Radius Industrial Park) with City of La Porte, NIPSCO |
Indiana | La Porte, La Porte County | $1.0B | n.a. | announced | |
Texas Research Park plan |
Texas | San Antonio | $1.0B | n.a. | announced | |
SAT93 and SAT94, San Antonio/Medina County Construction May 2025 to June 2027 |
Texas | San Antonio, Medina County | $700M | n.a. | construction | |
Boydton campus, Mecklenburg County Fetched source page carries no publication date; not a new 2024-2026 commitment |
Virginia | Boydton, Mecklenburg County | $499M | n.a. | operating | |
SAT 82, Castroville Work set to begin mid-August 2026; aimed completion June 2028 |
Texas | Castroville | ~$400M | n.a. | announced | |
El Mirage land acquisition |
Arizona | El Mirage | $258M | n.a. | announced | |
SAT16 |
Texas | San Antonio | ~$215M | n.a. | announced | |
Pecos datacenter campus Announced June 2026 |
Texas | Pecos | n.a. | 2,000 | announced | |
Fairwater Atlanta AI datacenter Began operation October 2025; East US 3 region launching early 2027 |
Georgia | Atlanta | n.a. | n.a. | operating | |
Microsoft ATL50 (5235 Stonewall Tell Road, Union City) DRI initial form filed 15 September 2026; completion 2032 |
Georgia | Union City, Fulton County | n.a. | n.a. | permitting | |
Microsoft Granger data center campus (former St. Joe Farm) with City of Mishawaka (water and sewer provider) |
Indiana | Granger, St. Joseph County | n.a. | n.a. | proposed | |
Microsoft MNZ07 Wellington Data Center (13490 University Boulevard, Gainesville) Filing reported 16 September 2026 |
Virginia | Gainesville, Prince William County | n.a. | n.a. | permitting | |
Quincy datacenters 2026 |
Washington | Quincy | n.a. | n.a. | operating |
Financing
Financing transactions
Transactions that name Microsoft as a party or attach to one of its named sites. Amounts are as stated, and overlapping commitments are never summed.
| Parties | Instrument | Amount | Date | Site | Sources |
|---|---|---|---|---|---|
OpenAI + Microsoft Under the restructured partnership announced 28 October 2025, OpenAI contracted to purchase an incremental $250B of Azure services, and Microsoft no longer has a right of first refusal to be OpenAI's compute provider. |
other | $250B | Announced 28 October 2025 |
n.a. |
|
Microsoft + OpenAI Group PBC Microsoft holds an investment in OpenAI Group PBC valued at approximately $135 billion, representing roughly 27 percent on an as-converted diluted basis. |
other | ~$135B | Announced 28 October 2025 |
n.a. |
|
MGX + BlackRock + Kuwait Investment Authority + Temasek + Nvidia + xAI + Microsoft + AI Infrastructure Partnership + GIP MGX is a founding partner of the AI Infrastructure Partnership (AIP), seeking $30 billion of equity scaling to up to $100 billion including debt financing. Kuwait Investment Authority joined in June 2025 and Temasek made an anchor investment at the October 2025 initial closing. |
platform | $30.0B | n.a. in source; KIA joined June 2025, Temasek anchored October 2025 initial closing |
n.a. |
|
Anthropic + Microsoft Under the strategic partnerships announced 18 November 2025, Anthropic committed to purchase $30 billion of Azure compute capacity and to contract additional compute capacity up to one gigawatt, with its initial allocation running on NVIDIA Grace Blackwell and Vera Rubin systems. |
other | $30.0B | Announced 18 November 2025 |
n.a. |
|
Nebius Group + Microsoft AI infrastructure agreement anchored at the Vineland, New Jersey facility, with more than 100,000 GB300 units planned. |
other | $17.4B | September 2025 |
Vineland build-to-suit facility (NJ) |
|
Nscale + Microsoft Expanded Microsoft agreement covering approximately 200,000 Nvidia GB300 GPUs, including ~104,000 at a ~240MW Texas campus, with an option on a second 700MW Texas phase from late 2027. Nscale's Form S-1 filed 18 September 2026 states that statements of work entered with Microsoft between September 2025 and April 2026 provide for payments of up to approximately $43.8 billion through December 2033, not including optional extensions and subject to delivery and availability requirements; the figure spans all Microsoft work, including the Sines, Portugal campus, rather than the Texas campus alone. |
other | ~$14.0B | deployment starting Q3 2026 |
Nscale Texas campus (Microsoft) (TX) |
|
IREN + Microsoft AI cloud agreement deploying Nvidia GB300 systems in four Horizon 1-4 phases totaling 200MW of critical IT load at Childress, Texas. |
other | ~$9.7B | November 3, 2025 |
Childress campus (Horizon 1-4) (TX) |
|
Microsoft + Anthropic Microsoft said it will invest up to $5 billion in Anthropic alongside the Azure compute commitment announced the same day. Recorded separately from Nvidia's investment; the two are not summed here. |
equity raise | $5.0B | Announced 18 November 2025 |
n.a. |
|
QTS Realty Trust + Blackstone + QTS Fayetteville I DC1-2, LLC + Microsoft (tenant) + Citigroup + Goldman Sachs + JPMorgan + Morgan Stanley QTS sold investment-grade five-year secured notes, known as Project Odyssey, through a bankruptcy-remote SPV that owns two newly built hyperscale buildings with more than 300 MW at its Fayetteville, Georgia campus leased to Microsoft. Crypto Briefing reports Baa3 from Moody's and BBB- from Fitch. Proceeds fund construction and operation plus distributions to QTS unit QualityTech Resolution of the size conflict: MT Newswires (citing Bloomberg) put the financing at about $3.9 billion, around $1 billion more than initially floated, and BigGo reported a completed $3.9 billion issue at a 7.228% final yield with more than $8 billion of orders. The Investing.com wording that the deal was raised by about $1 billion refers to the increase to $3.9 billion, not to a $4.9 billion final size |
project bond | ≥$3.9B | Marketed 17 August 2026, priced 18 August 2026 |
QTS Fayetteville campus (Project Odyssey buildings DC1-2) (GA) |
|
Lambda + JPMorgan Chase & Co. + Microsoft + Nvidia Bloomberg reported that Lambda raised about $1 billion of private short-dated debt, marketed to private placement investors, to buy Nvidia GPUs that will be leased by Microsoft under Lambda's 2025 agreement with Microsoft. JPMorgan declined to comment and Lambda, Nvidia and Microsoft did not respond. The deal followed Lambda's $926 million term loan that closed in August 2026. On 1 October 2026 Lambda announced the closing of a $1 billion investment-grade delayed draw term loan marketed to insurance companies and fixed income investors, its first US fixed rate financing. The facility was oversubscribed, is rated A (low) by Morningstar DBRS and Baa1 by Moody's, and carries a 6.78% fixed interest rate per the release. Proceeds fund the purchase and development of GPU infrastructure for three committed customer deployments with two investment-grade offtakers across multiple data centers; the release does not name the offtakers. J.P. Morgan acted as sole coordinating lead arranger, structuring agent and bookrunner. |
private placement debt (short-dated) | $1.0B | Reported by Bloomberg 28 August 2026; closing announced by Lambda 1 October 2026 |
n.a. |
|
Microsoft + St. Joe Farm (seller) Microsoft acquired nearly 930 acres of farmland from St. Joe Farm in Granger, St. Joseph County, Indiana, for $77.5 million, according to county recorder documents, for a planned data center campus. |
acquisition | $78M | June 2024 (St. Joseph County recorder documents) |
Microsoft Granger data center campus (former St. Joe Farm) (IN) |
|
Lambda + Microsoft Agreement covering GB300 NVL72 systems and tens of thousands of Nvidia GPUs. |
other | n.a. | November 3, 2025 |
n.a. |
|
Microsoft + Constellation Energy Constellation signed a 20-year power purchase agreement with Microsoft to launch the Crane Clean Energy Center, restarting Three Mile Island Unit 1 in Pennsylvania, which was retired for economic reasons in 2019. The restart adds approximately 835 MW of carbon-free capacity, with Microsoft purchasing energy to match consumption at its PJM data centers. Constellation's release cited 3,400 direct and indirect jobs and more than $3 billion in state and federal taxes, with a 2028 restart target; the unit was later reported as tracking ahead of that schedule. Constellation reported on 5 August 2026 that FERC granted a waiver allowing existing Capacity Interconnection Rights to transfer to the Crane Clean Energy Center and that the NRC approved Crane's fuel license amendment, keeping restart on track for 2027. In the same release Constellation said it signed an additional 920 MW of 15 to 20 year nuclear PPAs with investment-grade customers starting 2029 to 2032. |
ppa | n.a. | Announced 20 September 2024 |
n.a. |
|
Chevron + Microsoft Chevron signed a 20-year power purchase agreement with Microsoft to provide 2.67 gigawatts of behind-the-meter power for a Microsoft data center in West Texas, disclosed in Chevron's second-quarter 2026 earnings release filed with the SEC. Chevron had previously announced plans for a West Texas power complex for data center load ahead of a final investment decision. The project is named Kilby: the seller is Chevron subsidiary Energy Forge One LLC with Engine No. 1 as investment partner, about 2.67 GW phased, using GE Vernova and Solar Turbines equipment, with a final investment decision expected by the end of 2026 and first power in 2028 |
ppa | n.a. | Signed Q2 2026; disclosed in Chevron's 31 July 2026 results |
n.a. |
|
Microsoft Reported: Bloomberg News reported that Microsoft plans to build data center capacity to about 38 GW by 2032, from about 12 GW today, of which about 2 GW is AI-specific. The capacity would combine self-built and leased capacity, including from neoclouds. Microsoft has not publicly confirmed the 38 GW figure. |
capex guidance | n.a. | Reported by Bloomberg News, 11 September 2026 |
n.a. |
|
ChronoScale Corporation + Microsoft ChronoScale announced plans with Microsoft for a 50 MW AI compute deployment in North America using NVIDIA GB300 NVL72 systems with liquid cooling. The release named no site and disclosed no financing, and the 50 MW is a planned target rather than installed capacity |
gpu services agreement | n.a. | Announced 27 August 2026 |
n.a. |
The record
Sourced facts on Microsoft
- Purchases of property and equipment remaining in accounts payable were $6.9 billion at 30 June 2025 versus $4.3 billion at 30 June 2024.
- Reuters contextualised Microsoft's spend as part of '$700 billion in unprecedented Big Tech outlays'.
- TD Cowen said Microsoft has walked away from data center projects in the US and Europe to the tune of 2 GW, in a note published 26 March that included lease cancellations and deferrals, following earlier speculation about 200 MW walked away from in February 2025; Reuters covered the same analyst thesis as a potential oversupply signal.
- SemiAnalysis counter-read: the 2 GW of lease cancellations only covers non-binding LOIs, not firm contracts; Microsoft has approximately 5 GW of pre-leased capacity under binding contracts starting operations between 2025 and 2028, but is freezing 1.5 GW of near-term self-build datacenter projects previously scheduled to go online in 2025 and 2026.
- Estimated delayed or paused envelope for Microsoft per the atlas: up to about 2 GW of leases and LOIs cancelled or deferred plus about 1.5 GW of self-build frozen, and about $1 billion of Ohio capex paused.
- Microsoft runs a $545,000 Datacenter Academy investment near San Antonio ($0.545 million).
- The Mount Pleasant, Wisconsin announcement was paired with a 250 megawatt solar project built with National Grid Renewables and a $20 million joint community fund.
- Microsoft will add three Availability Zones in the US Government Arizona region in early 2026, and will add Availability Zones during 2026 in regions where it already has three, including East US 2 in Virginia.
- Microsoft is a 'key initial technology partner' but not an equity funder of the Stargate Project, and trade press noted it lost its position as OpenAI's exclusive cloud provider following the $500bn Stargate data center initiative.
- A specific 2024-2026 Iowa (West Des Moines) dollar commitment is n.a. in this research.
- On 2 September 2026 Microsoft announced that beginning in fiscal year 2027 it will report under two reportable segments, Agents and Infra and Devices and Consumer, replacing the three-segment structure in place since 2015, and that it will disclose Azure revenue separately for the first time. Reported Azure revenue was $29.42 billion in the June 2026 quarter and $101.94 billion for fiscal 2026.
- Bloomberg News reported on 10 September 2026, citing people familiar with the plans, that Microsoft intends to reach approximately 38 GW of data center capacity by 2032 from roughly 12 GW today, of which about 2 GW is currently AI-specific and about a third of the 38 GW is expected to be. The figure covers owned and leased facilities and excludes capacity rented from neocloud providers. Microsoft has not publicly confirmed the target, and it is recorded here as a press report rather than a company disclosure.
Against the market
How Microsoft prices compare
Microsoft's lowest price for each GPU beside the lowest price every other tracked provider lists for the same GPU, sold the same way. Typical is the middle provider, one price each.
NVIDIA H100On demand
All NVIDIA H100 prices →Microsoft$11.06per GPU-hour, on-demand
Rank21 of 21184% above typical
Typical$3.90middle of 21 providers
Lowest anywhere$1.99Voltage Park
Voltage Park1. H100 (single GPU, no contract)
$1.99
GMI Cloud2. NVIDIA H100
$2.00
Vultr3. NVIDIA HGX H100 — Cloud GPU
$2.30
Denvr Dataworks4. NVIDIA H100 SXM (8 GPUs, 208 vCPU)
$2.45
Cirrascale5. 8X NVIDIA H100 (16-Node+ Clustered)
$2.49
Massed Compute6. H100 (80 GB) ×1/×2/×4
$2.73
Runpod7. H100 PCIe / H100 NVL — Pods
$2.89
Hyperbolic8. H100 SXM
$3.19
Lambda9. NVIDIA H100 PCIe
$3.29
Nebius10. NVIDIA HGX H100
$3.85
Microsoft Azure21. Standard_ND96is_H100_v5 (no InfiniBand variants incl. _noIB_, _flex_)
$11.06
NVIDIA H100Reserved
All NVIDIA H100 prices →Microsoft$4.86per GPU-hour, 3-year reserved
Rank7 of 942% above typical
Typical$3.42middle of 9 providers
Lowest anywhere$2.30Vultr
Vultr1. NVIDIA HGX H100 — Bare Metal (8 × H100 80 GB SXM)
$2.30
Impossible Cloud2. H100 SXM 8-GPU nodes (EU, offer 286-H100)
$2.95
Together AI3. reserved
$3.19
DigitalOcean4. 12-month reserved
$3.26
Cirrascale5. 8X NVIDIA H100 (Standalone)
$3.42
Astra Intellectus6. H100 SXM 8-GPU
$3.65
Microsoft Azure7. Standard_ND96is_H100_v5 (no InfiniBand variants incl. _noIB_, _flex_)
$4.86
Google Cloud8. 3-year committed use
$4.86
Lambda9. 1-Click Clusters — NVIDIA H100
$5.54
MicrosoftTypical $3.42
NVIDIA H100Spot
All NVIDIA H100 prices →Microsoft$2.04per GPU-hour, spot
Rank2 of 55% below typical
Typical$2.15middle of 5 providers
Lowest anywhere$1.96Verda
Verda1. 1x H100 SXM5 80GB
$1.96
Microsoft Azure2. Standard_ND96is_H100_v5 (no InfiniBand variants incl. _noIB_, _flex_)
$2.04
Nebius3. NVIDIA HGX H100
$2.15
CoreWeave4. NVIDIA HGX H100
$2.46
Google Cloud5. a3-highgpu-8g (A3 High)
$6.29
MicrosoftTypical $2.15
NVIDIA H200On demand
All NVIDIA H200 prices →Microsoft$10.60per GPU-hour, on-demand
Rank16 of 16120% above typical
Typical$4.83middle of 16 providers
Lowest anywhere$2.60GMI Cloud
GMI Cloud1. NVIDIA H200
$2.60
Massed Compute2. H200 NVL (141 GB) ×8
$3.62
Hyperbolic3. H200
$3.99
Crusoe Cloud4. NVIDIA H200
$4.29
Runpod5. Clusters — H200 SXM
$4.31
DigitalOcean6. NVIDIA HGX H200 (141 GB)
$4.47
Nebius7. NVIDIA HGX H200
$4.50
Cirrascale8. 8X H200
$4.54
Verda9. 1x H200 SXM5 141GB
$5.12
Together AI10. H200 (140 GB), 256–1,000 GPUs
$5.99
Microsoft Azure16. Standard_ND96isr_H200_v5 (ND H200 v5)
$10.60
NVIDIA H200Reserved
All NVIDIA H200 prices →Microsoft$5.28per GPU-hour, 3-year reserved
Rank8 of 845% above typical
Typical$3.64middle of 8 providers
Lowest anywhere$3.11Impossible Cloud
Impossible Cloud1. H200 SXM 8-GPU nodes (EU, offer 287-H200)
$3.11
TheAI Cloud2. 1-year reserved
$3.20
DigitalOcean3. 12-month reserved
$3.40
Cirrascale4. 8X NVIDIA H200
$3.63
Astra Intellectus5. H200 SXM 8-GPU
$3.65
Together AI6. reserved
$3.99
Google Cloud7. 3-year committed use
$4.65
Microsoft Azure8. Standard_ND96isr_H200_v5 (ND H200 v5)
$5.28
MicrosoftTypical $3.64
NVIDIA GB200 NVL72On demand
All NVIDIA GB200 NVL72 prices →Microsoft$27.04per GPU-hour, on-demand
Rank5 of 5156% above typical
Typical$10.58middle of 5 providers
Lowest anywhere$8.00GMI Cloud
GMI Cloud1. NVIDIA GB200
$8.00
CoreWeave2. NVIDIA GB200 NVL72
$10.50
AWS3. u-p6e-gb200x36 (UltraServer)
$10.58
Oracle OCI4. BM.GPU.GB200.4
$16.00
Microsoft Azure5. Standard_ND128isr_NDR_GB200_v6 (ND GB200 v6)
$27.04
MicrosoftTypical $10.58
AMD Instinct MI300XOn demand
All AMD Instinct MI300X prices →Microsoft$6.00per GPU-hour, on-demand
Rank5 of 664% above typical
Typical$3.65middle of 6 providers
Lowest anywhere$1.85Vultr
Vultr1. AMD MI300X — Cloud GPU / Bare Metal
$1.85
DigitalOcean2. AMD MI300X (192 GB)
$2.59
Crusoe Cloud3. AMD MI300X
$3.45
Cirrascale4. 8X MI300X
$3.85
Microsoft Azure5. Standard_ND96isr_MI300X_v5
$6.00
Oracle OCI6. BM.GPU.MI300X.8
$6.00
MicrosoftTypical $3.65
AMD Instinct MI300XReserved
All AMD Instinct MI300X prices →Microsoft$2.63per GPU-hour, 3-year reserved
Rank2 of 3In line with typical
Typical$2.63middle of 3 providers
Lowest anywhere$1.91DigitalOcean
DigitalOcean1. 12-month reserved
$1.91
Microsoft Azure2. Standard_ND96isr_MI300X_v5
$2.63
Cirrascale3. 8X AMD MI300X
$3.08
MicrosoftTypical $2.63
By contract length
What a longer commitment buys
NVIDIA H1003 contract lengths
Committing 3 years instead of renting on demand cuts the H100 price 56%, from $11.06 to $4.86 per GPU-hour.
No commitmentStandard_ND96is_H100_v5 (no InfiniBand variants incl. _noIB_, _flex_)
$11.06to $12.29
Shortest
1 yearStandard_ND96is_H100_v5 (no InfiniBand variants incl. _noIB_, _flex_)
$7.08to $7.87
36% less
3 yearsStandard_ND96is_H100_v5 (no InfiniBand variants incl. _noIB_, _flex_)
$4.86to $5.40
56% less
NVIDIA H2003 contract lengths
Committing 3 years instead of renting on demand cuts the H200 price 50%, from $10.60 to $5.28 per GPU-hour.
No commitmentStandard_ND96isr_H200_v5 (ND H200 v5)
$10.60
Shortest
1 yearStandard_ND96isr_H200_v5 (ND H200 v5)
$5.82
45% less
3 yearsStandard_ND96isr_H200_v5 (ND H200 v5)
$5.28
50% less
NVIDIA GB200 NVL723 contract lengths
Committing 3 years instead of renting on demand cuts the GB200 NVL72 price 56%, from $27.04 to $11.90 per GPU-hour.
No commitmentStandard_ND128isr_NDR_GB200_v6 (ND GB200 v6)
$27.04to $31.10
Shortest
1 yearStandard_ND128isr_NDR_GB200_v6 (ND GB200 v6)
$17.31to $19.90
36% less
3 yearsStandard_ND128isr_NDR_GB200_v6 (ND GB200 v6)
$11.90to $13.68
56% less
AMD Instinct MI300X3 contract lengths
Committing 3 years instead of renting on demand cuts the MI300X price 56%, from $6.00 to $2.63 per GPU-hour.
No commitmentStandard_ND96isr_MI300X_v5
$6.00
Shortest
1 yearStandard_ND96isr_MI300X_v5
$3.84
36% less
3 yearsStandard_ND96isr_MI300X_v5
$2.63
56% less
Tracked prices
Microsoft prices
Every price the Index tracks for Microsoft, in the provider's own words beside a normalized figure, with the date it was last checked. What AI Costs compares them across the market.
| GPU | Offer | Terms | Published price | Per GPU-hour | Change | Checked | Source |
|---|---|---|---|---|---|---|---|
| NVIDIA H100 | Standard_ND96is_H100_v5 (no InfiniBand variants incl. _noIB_, _flex_)East US 2 | on-demandList | 88.488 USD per 1 Hour for 8 GPUs, Linux, East US 2 | $11.06 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA H100 | Standard_ND96isr_H100_v5 (ND H100 v5)East US | on-demandList | 98.32 USD per 1 Hour for 8 GPUs, Linux, East US | $12.29 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA H100 | Standard_ND96isrf_H100_v5East US | on-demandList | 98.32 USD per 1 Hour for 8 GPUs, Linux, East US | $12.29 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA H100 | Standard_ND96is_H100_v5 (no InfiniBand variants incl. _noIB_, _flex_)East US 2 | 3-year reservedCommitted | 1020879 USD for one VM with 8 GPUs, reservation term 3 Years, East US 2 | $4.86 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA H100 | Standard_ND96isr_H100_v5 (ND H100 v5)East US | 3-year reservedCommitted | 1134310 USD for one VM with 8 GPUs, reservation term 3 Years, East US | $5.40 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA H100 | Standard_ND96isrf_H100_v5East US | 3-year reservedCommitted | 1134310 USD for one VM with 8 GPUs, reservation term 3 Years, East US | $5.40 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA H100 | Standard_ND96is_H100_v5 (no InfiniBand variants incl. _noIB_, _flex_)East US 2 | 1-year reservedCommitted | 496099 USD for one VM with 8 GPUs, reservation term 1 Year, East US 2 | $7.08 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA H100 | Standard_ND96isr_H100_v5 (ND H100 v5)East US | 1-year reservedCommitted | 551221 USD for one VM with 8 GPUs, reservation term 1 Year, East US | $7.87 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA H100 | Standard_ND96isrf_H100_v5East US | 1-year reservedCommitted | 551221 USD for one VM with 8 GPUs, reservation term 1 Year, East US | $7.87 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA H100 | Standard_ND96is_H100_v5 (no InfiniBand variants incl. _noIB_, _flex_)East US 2 | spotSpot | 16.352582 USD per 1 Hour for 8 GPUs, Linux Spot, East US 2 | $2.04 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA H100 | Standard_ND96isr_H100_v5 (ND H100 v5)East US | spotSpot | 18.169536 USD per 1 Hour for 8 GPUs, Linux Spot, East US | $2.27 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA H100 | Standard_ND96isrf_H100_v5East US | spotSpot | 18.169536 USD per 1 Hour for 8 GPUs, Linux Spot, East US | $2.27 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA H200 | Standard_ND96isr_H200_v5 (ND H200 v5)East US 2 | on-demandList | 84.8 USD per 1 Hour for 8 GPUs, Linux, East US 2 | $10.60 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA H200 | Standard_ND96isr_H200_v5 (ND H200 v5)East US 2 | 3-year reservedCommitted | 1109592 USD for one VM with 8 GPUs, reservation term 3 Years, East US 2 | $5.28 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA H200 | Standard_ND96isr_H200_v5 (ND H200 v5)East US 2 | 1-year reservedCommitted | 407526 USD for one VM with 8 GPUs, reservation term 1 Year, East US 2 | $5.82 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA GB200 NVL72 | Standard_ND128isr_NDR_GB200_v6 (ND GB200 v6)East US | on-demandList | 108.16 USD per 1 Hour for 4 GPUs, Linux, East US | $27.04 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA GB200 NVL72 | Standard_ND128isrf_NDR_GB200_v6Korea South | on-demandList | 124.4 USD per 1 Hour for 4 GPUs, Linux, Korea South | $31.10 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA GB200 NVL72 | Standard_ND128isr_NDR_GB200_v6 (ND GB200 v6)East US | 3-year reservedCommitted | 1250676 USD for one VM with 4 GPUs, reservation term 3 Years, East US | $11.90 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA GB200 NVL72 | Standard_ND128isrf_NDR_GB200_v6Korea South | 3-year reservedCommitted | 1438462 USD for one VM with 4 GPUs, reservation term 3 Years, Korea South | $13.68 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA GB200 NVL72 | Standard_ND128isr_NDR_GB200_v6 (ND GB200 v6)East US | 1-year reservedCommitted | 606388 USD for one VM with 4 GPUs, reservation term 1 Year, East US | $17.31 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA GB200 NVL72 | Standard_ND128isrf_NDR_GB200_v6Korea South | 1-year reservedCommitted | 697436 USD for one VM with 4 GPUs, reservation term 1 Year, Korea South | $19.90 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA GB200 NVL72 | Standard_ND128isrf_NDR_GB200_v6Korea South | spotSpot | 24.88 USD per 1 Hour for 4 GPUs, Linux Spot, Korea South | $6.22 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| NVIDIA GB300 NVL72 | Standard_ND128isr_GB300_v6 / Standard_ND128isrG5_GB300_v6 (ND GB300 v6) | not publishedNot published | size doc lists "4 GPUs" per VM | Not published | No change | FeedOct 11, 2026 | learn.microsoft.com ↗ |
| AMD Instinct MI300X | Standard_ND96isr_MI300X_v5East US 2 | on-demandList | 48 USD per 1 Hour for 8 GPUs, Linux, East US 2 | $6.00 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| AMD Instinct MI300X | Standard_ND96isr_MI300X_v5East US 2 | 3-year reservedCommitted | 553772 USD for one VM with 8 GPUs, reservation term 3 Years, East US 2 | $2.63 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| AMD Instinct MI300X | Standard_ND96isr_MI300X_v5East US 2 | 1-year reservedCommitted | 269107 USD for one VM with 8 GPUs, reservation term 1 Year, East US 2 | $3.84 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| AMD Instinct MI300X | Standard_ND96isr_MI300X_v5East US 2 | spotSpot | 8.8704 USD per 1 Hour for 8 GPUs, Linux Spot, East US 2 | $1.11 | No change | FeedOct 11, 2026 | prices.azure.com ↗ |
| Seller | Model | Input | Cached input | Output | Per GPU-hour | Other published prices | Change | Checked |
|---|---|---|---|---|---|---|---|---|
| Microsoft Azure | GPT-5.4 ProModel by OpenAI | $30.00 | n.a. | $180.00 | n.a. | Batch $15.00 / $90.00Flex $15.00 / $90.00Data Zone $33.00 / $198.00Over the long-context threshold: $60.00 / $270.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.2 ProModel by OpenAI | $21.00 | n.a. | $168.00 | n.a. | Batch $10.50 / $84.00Data Zone $23.10 / $184.80 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5 ProModel by OpenAI | $15.00 | n.a. | $120.00 | n.a. | Batch $7.50 / $60.00Data Zone $16.50 / $132.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-6 AstraModel by OpenAI | $10.00 | $1.00 | $50.00 | n.a. | Flex $5.00 / $25.00Data Zone $11.00 / $55.00Over the long-context threshold: $20.00 / $75.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | chat-latest 05052026Model by OpenAI | $5.00 | $0.50 | $30.00 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | chat-latest 05282026Model by OpenAI | $5.00 | $0.50 | $30.00 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | chat-latest 07012026Model by OpenAI | $5.00 | $0.50 | $30.00 | n.a. | Data Zone $5.50 / $33.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | chat-latest 08062026Model by OpenAI | $5.00 | $0.50 | $30.00 | n.a. | Data Zone $5.50 / $33.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.5Model by OpenAI | $5.00 | $0.50 | $30.00 | n.a. | Batch $2.50 / $15.00Priority $12.50 / $75.00Data Zone $5.50 / $33.00Over the long-context threshold: $10.00 / $45.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.6 SolModel by OpenAI | $4.00 | $0.40 | $20.00 | n.a. | Flex $2.00 / $10.00Priority $8.00 / $40.00Data Zone $4.40 / $22.00Over the long-context threshold: $8.00 / $30.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.4Model by OpenAI | $2.50 | $0.25 | $15.00 | n.a. | Batch $1.25 / $7.50Flex $1.25 / $7.50Priority $5.00 / $30.00Data Zone $2.75 / $16.50Over the long-context threshold: $5.00 / $22.50 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Grok 3Model by xAI | $3.00 | n.a. | $15.00 | n.a. | Data Zone $3.30 / $16.50 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Grok 4Model by xAI | $3.00 | n.a. | $15.00 | n.a. | Data Zone $3.30 / $16.50 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.2Model by OpenAI | $1.75 | $0.18 | $14.00 | n.a. | Batch $0.88 / $7.00Priority $3.50 / $28.00Data Zone $1.93 / $15.40 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.2 ChatModel by OpenAI | $1.75 | $0.18 | $14.00 | n.a. | Data Zone $1.93 / $15.40 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.2 Chat 0210Model by OpenAI | $1.75 | $0.18 | $14.00 | n.a. | Data Zone $1.93 / $15.40 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.2 CodexModel by OpenAI | $1.75 | $0.18 | $14.00 | n.a. | Data Zone $1.93 / $15.40 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.3 ChatModel by OpenAI | $1.75 | $0.18 | $14.00 | n.a. | Data Zone $1.93 / $15.40 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.3 CodexModel by OpenAI | $1.75 | $0.18 | $14.00 | n.a. | Priority $3.50 / $28.00Data Zone $1.93 / $15.40 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.6 TerraModel by OpenAI | $2.00 | $0.20 | $12.00 | n.a. | Flex $1.00 / $6.00Priority $4.00 / $24.00Data Zone $2.20 / $13.20Over the long-context threshold: $4.00 / $18.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5Model by OpenAI | $1.25 | $0.13 | $10.00 | n.a. | Batch $0.63 / $5.00Priority $2.50 / $20.00Data Zone $1.38 / $11.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5 ChatModel by OpenAI | $1.25 | $0.13 | $10.00 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5 CodexModel by OpenAI | $1.25 | $0.13 | $10.00 | n.a. | Data Zone $1.38 / $11.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.1Model by OpenAI | $1.25 | $0.13 | $10.00 | n.a. | Batch $0.63 / $5.00Priority $2.50 / $20.00Data Zone $1.38 / $11.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.1 ChatModel by OpenAI | $1.25 | $0.13 | $10.00 | n.a. | Data Zone $1.38 / $11.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.1 CodexModel by OpenAI | $1.25 | $0.13 | $10.00 | n.a. | Data Zone $1.38 / $11.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.1 Codex MaxModel by OpenAI | $1.25 | $0.13 | $10.00 | n.a. | Data Zone $1.38 / $11.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-6 SolModel by OpenAI | $2.00 | $0.20 | $10.00 | n.a. | Flex $1.00 / $5.00Priority $4.00 / $20.00Data Zone $2.20 / $11.00Over the long-context threshold: $4.00 / $15.00 | New · Sep 25 | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-6.1 SolModel by OpenAI | $2.00 | $0.10 | $10.00 | n.a. | Flex $1.00 / $5.00Data Zone $2.20 / $11.00Over the long-context threshold: $4.00 / $15.00 | New · Oct 9 | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | MAI-Thinking-1Model by Microsoft | $2.00 | $0.20 | $8.00 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Grok 4.6Model by xAI | $2.00 | $0.50 | $6.00 | n.a. | Data Zone $2.20 / $6.60Over the long-context threshold: $4.00 / $12.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Grok 4.7Model by xAI | $2.00 | $0.50 | $6.00 | n.a. | Data Zone $2.20 / $6.60Over the long-context threshold: $4.00 / $12.00 | New · Oct 10 | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | DeepSeek R1Model by DeepSeek | $1.35 | n.a. | $5.40 | n.a. | Data Zone $1.49 / $5.94 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | MAI-DS-R1Model by Microsoft | $1.35 | n.a. | $5.40 | n.a. | Data Zone $1.49 / $5.94 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | DeepSeek V3.1Model by DeepSeek | $1.23 | n.a. | $4.94 | n.a. | Data Zone $1.36 / $5.43 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | DeepSeek V3Model by DeepSeek | $1.14 | n.a. | $4.56 | n.a. | Data Zone $1.25 / $5.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | DeepSeek V3-0324Model by DeepSeek | $1.14 | n.a. | $4.56 | n.a. | Data Zone $1.25 / $5.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.4 MiniModel by OpenAI | $0.75 | $0.075 | $4.50 | n.a. | Batch $0.38 / $2.25Flex $0.38 / $2.25Priority $1.50 / $9.00Data Zone $0.83 / $4.95 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Kimi K2.6 ThinkingModel by Moonshot AI | $0.95 | n.a. | $4.00 | n.a. | Data Zone $1.05 / $5.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Kimi K2.7 CodeModel by Moonshot AI | $0.95 | $0.19 | $4.00 | n.a. | Data Zone $1.05 / $5.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | MAI-Cyber-1-FlashModel by Microsoft | $0.60 | $0.06 | $3.50 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | DeepSeek V4 ProModel by DeepSeek | $1.74 | $0.15 | $3.48 | n.a. | Data Zone $1.91 / $3.83 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Kimi K2.5 ThinkingModel by Moonshot AI | $0.60 | n.a. | $3.00 | n.a. | Data Zone $0.66 / $3.30 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Grok 4.2Model by xAI | $1.25 | n.a. | $2.50 | n.a. | Data Zone $1.38 / $2.75 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Grok 4.3Model by xAI | $1.25 | $0.20 | $2.50 | n.a. | Data Zone $1.38 / $2.75Over the long-context threshold: $2.50 / $5.00 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Kimi K2 ThinkingModel by Moonshot AI | $0.60 | n.a. | $2.50 | n.a. | Data Zone $0.66 / $2.75 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5 MiniModel by OpenAI | $0.25 | $0.025 | $2.00 | n.a. | Batch $0.13 / $1.00Priority $0.45 / $3.60Data Zone $0.28 / $2.20 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.1 Codex MiniModel by OpenAI | $0.25 | $0.025 | $2.00 | n.a. | Data Zone $0.28 / $2.20 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | DeepSeek V3.2Model by DeepSeek | $0.58 | n.a. | $1.68 | n.a. | Data Zone $0.64 / $1.85 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Grok Code Fast 1Model by xAI | $0.20 | n.a. | $1.50 | n.a. | Data Zone $0.22 / $1.65 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Mistral Large 3Model by Mistral AI | $0.50 | n.a. | $1.50 | n.a. | Data Zone $0.55 / $1.65 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | DeepSeek V4 Flash 0731Model by DeepSeek | $0.44 | $0.014 | $1.32 | n.a. | Data Zone $0.48 / $1.45 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Grok 3 MiniModel by xAI | $0.25 | n.a. | $1.27 | n.a. | Data Zone $0.28 / $1.38 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.4 NanoModel by OpenAI | $0.20 | $0.02 | $1.25 | n.a. | Batch $0.10 / $0.63Flex $0.10 / $0.63Data Zone $0.22 / $1.38 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Code 1.1 FlashModel by Microsoft | $0.20 | $0.02 | $1.20 | n.a. | None published | New · Sep 17 | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | DeepSeek V4.1 FlashModel by DeepSeek | $0.30 | $0.006 | $1.20 | n.a. | Data Zone $0.33 / $1.32 | New · Oct 9 | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5.6 LunaModel by OpenAI | $0.20 | $0.02 | $1.20 | n.a. | Flex $0.10 / $0.60Priority $0.40 / $2.40Data Zone $0.22 / $1.32Over the long-context threshold: $0.40 / $1.80 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Llama 4 Maverick 17BModel by Meta | $0.25 | n.a. | $1.00 | n.a. | Data Zone $0.28 / $1.10 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | CodestralModel by Mistral AI | $0.30 | n.a. | $0.90 | n.a. | Data Zone $0.33 / $0.99 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Llama 3.3 70BModel by Meta | $0.71 | n.a. | $0.71 | n.a. | Data Zone $0.78 / $0.78 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Phi-3-Medium-128K-InstructModel by Microsoft | $0.17 | n.a. | $0.68 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Phi-3-Medium-4K-InstructModel by Microsoft | $0.17 | n.a. | $0.68 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Phi-3.5-MoE-InstructModel by Microsoft | $0.16 | n.a. | $0.64 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | gpt-oss-120BModel by OpenAI | $0.15 | n.a. | $0.60 | n.a. | Data Zone $0.17 / $0.66 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Phi-3-Small-128K-InstructModel by Microsoft | $0.15 | n.a. | $0.60 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Phi-3-Small-8K-InstructModel by Microsoft | $0.15 | n.a. | $0.60 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Phi-3-Mini-128K-InstructModel by Microsoft | $0.13 | n.a. | $0.52 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Phi-3-Mini-4K-InstructModel by Microsoft | $0.13 | n.a. | $0.52 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Phi-3.5-Mini-128K-InstructModel by Microsoft | $0.13 | n.a. | $0.52 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Phi-3.5-V-128K-InstructModel by Microsoft | $0.13 | n.a. | $0.52 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | DeepSeek V4 FlashModel by DeepSeek | $0.19 | $0.028 | $0.51 | n.a. | Data Zone $0.21 / $0.56 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-6 LunaModel by OpenAI | $0.10 | $0.01 | $0.50 | n.a. | Flex $0.05 / $0.25Data Zone $0.11 / $0.55Over the long-context threshold: $0.20 / $0.75 | New · Sep 25 | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Grok 4 FastModel by xAI | $0.20 | n.a. | $0.50 | n.a. | Data Zone $0.22 / $0.55 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Grok 4.1Model by xAI | $0.20 | n.a. | $0.50 | n.a. | Data Zone $0.22 / $0.55 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Phi-4Model by Microsoft | $0.13 | n.a. | $0.50 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Phi-4-reasoningModel by Microsoft | $0.13 | n.a. | $0.50 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Phi-4-reasoning-plusModel by Microsoft | $0.13 | n.a. | $0.50 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | GPT-5 NanoModel by OpenAI | $0.05 | $0.005 | $0.40 | n.a. | Batch $0.025 / $0.20Data Zone $0.055 / $0.44 | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Phi-4-Mini MMModel by Microsoft | $0.08 | n.a. | $0.32 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Phi-4-MiniModel by Microsoft | $0.075 | n.a. | $0.30 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
| Microsoft Azure | Phi-4-mini-reasoningModel by Microsoft | $0.075 | n.a. | $0.30 | n.a. | None published | No change | FeedOct 10, 2026prices.azure.com ↗ |
Sources
Sources for Microsoft
Every source cited on this page, once each.
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- reuters.comReuters
- news.microsoft.comMicrosoft news
- wpr.orgWisconsin Public Radio
- utilitydive.comUtility Dive
- finance-commerce.comFinance & Commerce (Milwaukee Journal Sentinel)
- urbanmilwaukee.comVillage of Mount Pleasant release (Urban Milwaukee), 28 September 2026
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- apnews.comAP
- datacenterdynamics.comDCD
- ibj.comIndianapolis Business Journal
- insideindianabusiness.comInside INdiana Business, 7 January 2025
- datacenterdynamics.comDCD
- enr.comENR
- datacenterdynamics.comDCD
- blogs.microsoft.comMicrosoft blog
- news.microsoft.comMicrosoft Source
- azure.microsoft.comAzure blog
- ajc.comAtlanta Journal-Constitution
- apps.dca.ga.govGeorgia DCA DRI #4843 summary
- apps.dca.ga.govGeorgia DCA DRI #4843 initial form
- abc57.comABC57, 18 February 2026
- wndu.comWNDU, 25 August 2026
- patch.comPatch
- datacenterdynamics.comData Center Dynamics
- geekwire.comGeekWire
- openai.comOpenAI
- blackrock.comBlackRock
- reuters.comReuters
- ropesgray.comRopes & Gray
- reuters.comReuters
- blogs.microsoft.comMicrosoft
- reuters.comReuters
- datacenterdynamics.comDCD
- nscale.comNscale
- sec.govNscale Ltd Form S-1 (SEC)
- iren.comIREN
- investing.comInvesting.com
- cryptobriefing.comCrypto Briefing
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- nordsip.comNordSip
- finance.yahoo.comMT Newswires via Yahoo Finance
- finance.biggo.comBigGo Finance
- finance.yahoo.comBloomberg via Yahoo Finance
- finance.yahoo.comLambda release via Business Wire (Yahoo Finance), 1 October 2026
- lambda.aiLambda
- constellationenergy.comConstellation Energy
- utilitydive.comUtility Dive
- morningstar.comConstellation (Business Wire via Morningstar)
- sec.govChevron Q2 2026 results (SEC EX-99.1)
- cnbc.comCNBC
- worldoil.comWorld Oil
- cloudcomputing-news.netCloudTech News (citing Bloomberg)
- finance.yahoo.comGuruFocus via Yahoo Finance (citing Bloomberg)
- finance.yahoo.comChronoScale via GlobeNewswire (Yahoo Finance)
- finance.yahoo.comYahoo Finance (Insider Monkey)
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- microsoft.comFY26 Q4 press release financial statements
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- reuters.comReuters
- newsletter.semianalysis.comSemiAnalysis
- openai.comOpenAI
- sec.govSEC Form 8-K
- sec.gov8-K exhibit 99.1
- cnbc.comCNBC
- investing.comReuters via Investing.com
- seekingalpha.comSeeking Alpha
- learn.microsoft.comlearn.microsoft.com
- prices.azure.comprices.azure.com
- prices.azure.comprices.azure.com
Hyperscaler
More in the Index
Capital figures come from the Capital Atlas, refreshed every Tuesday, Thursday and Saturday. Site commitments overlap reported capital expenditure and overlap one another, so each figure appears as its source states it and none are added into a single deployment number. Informational, not investment advice.
Sources
The SAVRN reference set
Seven references, one system
Capital, delay, policy, water, grid, permits and scarcity are one system seen from seven sides. Each reference is primary-sourced, refreshed on a schedule, and links into the others, so a project can be followed from the money committed to the docket that stopped it.
Capital Atlas
Who is funding AI data centers: capital providers, named sites, financing transactions, and the blocked-and-delayed record, state by state and company by company.
Open the atlas →
Delay Watchlist
Project-level slippage: named projects, jurisdictional actions, utility and federal dockets, SEC disclosures, and the interconnection queue.
Open the watchlist →
Moratorium Tracker
The policy layer: every state measure and local moratorium mapped and cited, with one page per state.
Open the tracker →
Water Tracker
Every federal, state, local and interstate water measure that touches a data center, plus a fifty-state water ledger.
Open the water tracker →
Grid Operator Watchlist
ERCOT, PJM, MISO, CAISO, SPP, NYISO, ISO-NE and FERC: the large-load rules, filings and queue positions that decide whether a site can energize.
Open the watchlist →
Permits and Power Development
Data center and substation permits, large loads in the interconnection queues, and the power plants planned to serve them, refreshed hourly from public records.
Open the permits tracker →
SAVRN Scarcity Tracker
Eleven primary-sourced indicators of AI infrastructure scarcity, one composite index, read against the token index, SAVRN's own cost basis and the frontier ceiling.
Open the scarcity tracker →
Have a specific address? Site Intelligence reads all seven references against one location, county, utility and grid operator included, and cites every finding.
Check an address →