Internet cloud is future: Microsoft

Microsoft chief executive Steve Ballmer said that the technology giant that built a fortune with packaged software is betting the future of computing is in the Internet "cloud."

"Cloud computing represents the next frontier," Ballmer said at an annual gathering of corporate chief executives at Microsoft's campus in Redmond, Washington.

"We've been betting or investing in the cloud for about ten years and in earnest for about six or seven years."

Cloud computing gained momentum during the economic downturn as people and businesses saved money by using applications hosted online instead of buying, installing and maintaining software on their own machines.

"There is incredible opportunity in the cloud," Ballmer said.

Microsoft sees cloud computing as playing roles in its investments in personal computers, smartphones, and Internet-enabled television.

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