Microsoft, cloud growth
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Microsoft yanks Wall Street
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Microsoft dropped 10%, shedding more than $350 billion in market value after its cloud business failed to impress, while Meta gained 10%.
Microsoft’s stock tumbled over the company’s decision to prioritize internal AI development over immediate cloud revenue.
As investors sold shares of Microsoft on Thursday, the $3.22 trillion company dragged down the software complex and the S&P 500 index.
With Microsoft spending many billions on data centers, and rumors that no one is using its AI, CEO Satya Nadella shared some usage numbers.
Engineers are now focusing on performance, reliability, and the overall Windows experience.
Wall Street analysts remained overwhelmingly bullish on Microsoft, even as the stock dipped 12% post-earnings.
OpenAI and Microsoft have a reconfigured relationship. The software giant revealed just how much OpenAI is driving its RPO.
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