What’s Going On With Microsoft Stock Today

• Microsoft Corp (NASDAQ: MSFT) shares are trading lower on Monday for no company-specific news.

• The stock is up 30% YTD, signaling an upside from the ChatGPT frenzy.

• In 2023, Microsoft launched its AI-powered search engine, Bing AI, building on its partnership with OpenAI, intensifying rivalry with Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google.

• Also Read: Microsoft’s Premium ChatGPT Service Set to Supercharge Azure Growth: Analyst Predicts Even Wider Lead Over AWS

• Reports in April suggested Microsoft is developing its artificial intelligence chip code-named “Athena” to power the technology behind AI chatbots like ChatGPT.

• The early backer of ChatGPT-owner OpenAI has been working on the chip since 2019, and a small group of Microsoft and OpenAI employees is testing the chip.

• Other big tech companies, including Amazon.Com Inc (NASDAQ: AMZN)and Google, also make their in-house chips for AI.

• Google reportedly plans to add artificial intelligence chat and short video clips to its search results amid growing threats against its dominance.

• Price Action: MSFT shares traded lower by 0.91% at $307.81 on the last check Monday.

Don’t miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article What’s Going On With Microsoft Stock Today originally appeared on Benzinga.com

.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.