Monday, May 29, 2023
HomeTechnologyWhy Microsoft Stock Is Up Today | The colorful fool

Why Microsoft Stock Is Up Today | The colorful fool

What happened

shares of Microsoft (MSFT -2.36%) rose Thursday after the company rolled out new productivity tools powered by artificial intelligence (AI). As of 1:10 p.m. ET today, Microsoft stock was up more than 3%.

so what

The tech company wasted little time putting its recent multibillion-dollar investment in AI powerhouse OpenAI to good use. Microsoft will integrate the research lab’s popular ChatGPT application into a premium version of its messaging app Teams.

ChatGPT is at the forefront of Generative AI – an advanced technology that can be used to create new content such as text and images using computer algorithms. ChatGPT allows users to interact with its AI-powered chatbot in a conversational manner. Users can have their questions answered almost instantly.

It can also quickly produce new content such as articles, essays, and even music.

By integrating ChatGPT and other AI capabilities into its new Microsoft Teams Premium offering, the company can now provide its subscribers with automatically generated meeting notes, recommended tasks and live translation, along with a host of other AI-produced features.

Microsoft Teams Premium is available at an introductory price of $7 per month. The company said it would increase the price to $10 per month on July 1st.

What now

Microsoft has big ambitions for its partnership with OpenAI. The company is reportedly planning to use ChatGPT to power its Bing search engine in hopes that its advanced AI technology will help it wrest market share alphabetis google.

Microsoft will also likely use the innovative technology to enhance more of its productivity offerings in the coming months.

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet and Microsoft. The Motley Fool has a disclosure policy.

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