Microsoft (NASDAQ:MSFT), a global leader in software and cloud services, continues to impress with its long-term growth trajectory. Today, MSFT stock reached a new all-time high, a development that should not surprise seasoned investors.
At the time of writing, MSFT stock is up by approximately 2%, with the potential to climb even higher before the trading session ends. The stock’s surge to over $378 per share today is a testament to its impressive performance.
This surge is driven by recent company-specific news that has piqued the interest of tech investors. Over the past weekend, OpenAI, an artificial intelligence (AI) company in which Microsoft has invested billions and collaborated with on key projects, saw the firing of its former CEO, Sam Altman. In a swift move, Microsoft hired Altman, a development that has significantly impacted the company’s standing in the AI sector.
Microsoft’s future as an AI powerhouse hinged on its partnership with OpenAI. When news broke that Altman was ousted as CEO on Friday, MSFT stock took a hit as investors questioned the company’s future in AI.
However, with Altman now on Microsoft’s payroll, the dynamics have changed dramatically. Microsoft has transformed into an AI powerhouse virtually overnight. It is presumed that several other executives and employees who left OpenAI in solidarity with Altman could join Microsoft.
While this story is still unfolding, it’s clear that investors are voting with their wallets, seeking more exposure to MSFT stock and its potential AI upside.
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