Microsoft's Azure pivot (2014)
Satya Nadella took over as Microsoft chief executive with Windows sales flattening and mobile lost to Apple and Google. He refocused the company on cloud computing, pouring money into the Azure platform and pushing 'cloud first' across every product.
Investors doubted the shift as margins compressed and legacy revenue softened.
Azure became a main profit engine and Microsoft's market value grew several-fold over the following decade.
Like Baidu, Microsoft reoriented around cloud infrastructure while an older cash cow matured, absorbing near-term pain for a new revenue base.
