(Bloomberg News) -- Microsoft Corp. wants to reach annualized revenue of $20 billion in its corporate cloud business in the fiscal year that ends in June 2018.

Chief Executive Officer Satya Nadella announced the run-rate goal for cloud services at a meeting Wednesday with analysts during the software maker’s Build conference in San Francisco. In the current fiscal year, the company will have a gross margin for its commercial cloud business of 44 percent, said Chief Financial Officer Amy Hood.

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