Microsoft made headlines on Tuesday as its share price reached a record high of $359. This surge followed the unveiling of Microsoft 365 Copilot, an AI-powered version of its productivity platform. The stock’s 4% increase propelled Microsoft’s market cap to $2.67 trillion.
The reason behind this impressive stock performance was the announcement of Microsoft 365 Copilot’s affordability. Customers already subscribed to Microsoft 365 plans can now access the AI-powered software for an additional $30 per month. These plans range from $12.50 to $36 per month for each user. The technology conglomerate’s shares peaked at $366.30 and have consistently risen throughout the last month, boasting a growth rate of over 6%.
Microsoft is just one example of a technology company benefitting from AI advancements. Nvidia, a chip manufacturer for AI systems, also witnessed a surge in their stock price, reaching an all-time high of $474.94. This milestone occurred merely two months after the company surpassed a market cap of $1 trillion—a reflection of the optimism surrounding their AI-driven chips.
Another tech player, Oracle, experienced a similar trajectory. While their stock price briefly reached an all-time high of $126.55 before a slight drop, the company profited from their AI investments. In particular, Oracle’s collaboration with Cohere, a generative AI startup valued at over $2 billion, has contributed to their success in the market.
Amidst fierce competition from industry giants like Google and Salesforce, Microsoft has yet to announce a release date for their upcoming AI software. This software, named Copilot, was introduced in March as an integration for Microsoft 365, designed to enhance users’ productivity and skills on applications like Word, Excel, and PowerPoint. With the AI addition, Microsoft CEO Satya Nadella believes that the way we work will be revolutionized, ushering in a new era of productivity growth.
It is worth noting that Microsoft’s recent stock surge marks a significant recovery from last year’s plummeting prices, not only for Microsoft but also for other tech behemoths. Since the beginning of this year alone, Microsoft’s stock has witnessed an impressive increase of nearly $120 per share, surpassing previous record-breaking performances in late 2021.
Microsoft’s record-breaking share price, paired with the introduction of Microsoft 365 Copilot, highlights the profound impact of AI advancements in today’s technology landscape. As companies invest in AI technologies, the stock market responds with optimism and substantial growth.
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