Christopher Hohn’s TCI slashes stake in Microsoft, FT reports

Sir Christopher Hohn’s TCI has nearly exited its long-held position in Microsoft (MSFT), cutting its stake from about 10% to 1% of its portfolio by March amid concerns that AI could disrupt the company’s core software dominance, The Financial Times’ Costas Mourselas reports. “We reduced our investment in Microsoft because the rapid progress in AI introduces uncertainty over Microsoft’s competitive position in the future,” Hohn told investors in a letter seen by the FT. “We are primarily concerned about Microsoft’s Office productivity software franchise, where AI could change established workflows and lead to the emergence of new productivity platforms, but we also see some risks in Azure,” the letter added.