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Microsoft Shares Hit a Historic High, Top $2.76 Trillion in Market Value after Announcing New AI Service

By Stella 

icrosoft announced a new subscription-based artificial intelligence service on Tuesday, sending its stock to an all-time high and market value over $2.76 trillion.

Shares hit an intraday high of $366.78 after the software giant announced a new AI subscription service for its Microsoft 365 software suite. The AI feature, called Microsoft 365 Copilot, will cost another $30 per user per month to integrate with programs such as Excel, Word and Teams.

The company’s shares also settled at an all-time high closing price of $359.49, up 4% for the day.

Microsoft currently charges businesses $36 per user per month for Microsoft 365 E3, which includes Office apps, Teams, SharePoint, OneDrive, and other productivity programs.

The company hasn’t set a release date for Copilot, but Wall Street reacted enthusiastically to its aggressive pricing, pushing the stock about 4% higher on Tuesday.

“Employees are looking to use AI tools to help them unlock creativity and productivity at work — 70% say they would delegate as much work as possible to AI according to our Work Trend Index,” Microsoft wrote in a news release.

Microsoft is jumping another hurdle in the race to deliver AI with the likes of Google, IBM and others chasing the evolving technology. Microsoft also announced an updated to its AI chatbot, Bing Chatbot, that allows for visual search.

Source: The Messenger

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