Microsoft ( (MSFT) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Microsoft is making strategic moves in the AI sector, highlighted by its recent acquisition of the entire team from Crossing Minds, a startup specializing in AI recommendation tools for online shopping platforms. This acquisition, termed as an ‘acqui-hire’, aims to bolster Microsoft’s AI capabilities amid increasing competition from tech giants like Meta Platforms. The move comes as Microsoft seeks to secure top AI talent and maintain its leadership in the AI market, especially as some of its researchers have been lured away by rivals.
In the financial markets, Microsoft’s stock is experiencing a significant upswing, trading at an all-time high and approaching the $500 mark. Analysts are optimistic about Microsoft’s future, with a consensus Strong Buy rating and a price target suggesting further upside potential. The company’s focus on AI, including its efforts to develop its own AI chips despite some setbacks, is seen as a key driver of its stock performance. As Microsoft continues to integrate AI across its business segments, investors remain bullish on its long-term growth prospects.