Having helped underpin this year’s rally, Microsoft delivered a combination of strong March quarter numbers and AI blue sky to send its stock soaring.
and instead focus on the impressive March quarter results delivered by tech giants Microsoft and Google-owner Alphabet on Tuesday night.
Microsoft CEO Satya Nadella says the tech giant can balance AI-driven market share gains and profitability.Numbers from JPMorgan show that since the start of the year, the group of AI mega cap leaders – Microsoft, Alphabet, Amazon, Meta Platforms, NVIDIA and Salesforce – have added a staggering $US1.4 trillion in market capitalisation, as investors have flocked to get a piece of the generative AI theme.Microsoft, which is up 15 per cent year-to-date, deserves a special mention.
Well, “explain” might be a bit of a stretch – such is the infancy of the AI industry, Nadella and chief financial officer Amy Hood can only really talk in broad brushstrokes about the potential ways AI can be monetised. Analysts are trying to get their heads around what AI means for the nuts and bolts of Microsoft’s finances, and the vast majority of questions Nadella and Hood took aimed at shedding some light on this.
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