Aug 21 (Reuters) - Microsoft ( MSFT ) on Wednesday cut

its first-quarter intelligent cloud forecast, the technology

giant said in an investor presentation.

The company reported slowing growth in its cloud business in

July even after the tech giant spent billions of dollars in

artificial intelligence to upgrade its products and services.

The company said cloud and AI-related capital spending would

take up nearly all of its expenditures. Microsoft ( MSFT ) said cloud

growth would accelerate in the second half of fiscal 2025.

The company now expects intelligent cloud revenue to be

between $23.80 billion and $24.10 billion, compared with its

prior expectations of $28.6 billion and $28.9 billion.

(Reporting by Jaspreet Singh in Bengaluru; Editing by Arun

Koyyur)