Microsoft Stock On Pace for Record Close

Jul 18, 2023 thejournalbiz

Shares of Microsoft jumped about 4% after the company made announcements about artificial intelligence-related products.

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@Microsoft Stock On Pace for Record Close After AI-Related Announcements, via @WSJ #Microsoft #ai #GenerativeAI https://t.co/GAhnFuAVpz

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That puts Microsoft on pace to close at a new all-time high. It recently traded around $361. Its current record is $348.10 notched in June.

Microsoft plans to charge businesses $30 a month per person for access to an AI-powered assistant for Microsoft 365.

The company also said it will release a new version of Meta Platforms’ AI language model that will be free and available to developers building software on Microsoft’s Azure cloud-computing platform.

Microsoft also announced it is rolling out the ability to search with images in Bing Chat.

Shares of Meta were little changed. Alphabet’s stock declined about 1%.