Portland center Greg Oden, the first pick of the 2007 draft, scored 14 points and pulled down a team-high nine rebounds. LaMarcus Aldridge also scored 14 points for the Blazers while Jerryd Bayless had 13.
Azubuike, who didn't play during the first half, hit 7 of 10 shots during the second half as the Warriors (1-1) rallied from a four-point halftime deficit.
Golden State, which trailed 78-77 after three quarters, outscored Portland 33-17 during the fourth quarter to pull away. Azubuike scored 11 points during the fourth quarter.
Wright scored 10 of his 16 points during the second half, and tied a team high with five rebounds. Corey Maggette added 15 points for Golden State while Andris Biedrins scored 13.
Portland guard Rudy Fernandez played 36 minutes before leaving the game late in the fourth quarter with an ankle injury. Fernandez hit 5 of 12 shots from the field and led the Blazers with 15 points.
Portland (1-1) was nowhere near as sharp against Golden State as it was during Tuesday's preseason opener, an 110-81 win over Sacramento in which the Blazers had an array of dunks and highlight-reel passes.
Portland committed 25 turnovers and shot just 36.9 percent from the field against the Warriors.
Portland took a 53-49 halftime lead during a ragged first half. Oden did most of his damage during the first half, scoring 10 points while grabbing nine rebounds.
Golden State raced to a 76-66 lead, but the Blazers came alive during the final three minutes of the quarter, outscoring the Warriors 12-1 to take a 78-77 lead into the fourth quarter.
Golden State took command of the game early in the fourth quarter, as the Warriors went on a 15-2 run to establish a 94-83 lead with seven minutes remaining.
Prior to the game, the Trail Blazers announced that guard Martell Webster suffered a left foot injury during Tuesday's game against Sacramento. An MRI confirmed that Webster has a stress fracture in the fifth metatarsal. The team said it would announce a course of treatment, which could include surgery, and a timetable for Webster's return Thursday.