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Elon Musk's lawsuit against OpenAI and CEO Sam Altman is set to proceed after a California judge dismissed some claims but allowed key allegations, including fraud and breach of contract, to move forward. Musk argues that OpenAI misled him about maintaining its non-profit status to secure his funding for its transition to a for-profit model. OpenAI has countered that Musk's actions are intended to undermine its efforts and gain control over AI innovations for personal gain.
Visa and Mastercard have launched AI initiatives to enhance online shopping experiences. Visa's "Intelligent Commerce" allows AI agents to shop for consumers, while Mastercard's "Agent Pay" integrates payments into AI-driven recommendations. These developments reflect a significant shift in retail, with 71% of consumers eager for AI integration, despite concerns about trust and privacy.
Microsoft Corporation, a leader in operating systems and software development, reported strong Q3 results, alleviating investor concerns, driven by growth in Azure and AI. Net sales are primarily generated from operating systems and application development tools (49.4%), cloud-based software applications (25%), and video gaming hardware and software (8.8%), with the U.S. accounting for 50.9% of total sales.
UBS has increased its price target for Microsoft from $480 to $500, maintaining a "Buy" rating following the company's strong quarterly revenue performance. Analyst Karl Keirstead noted that growth in the Azure cloud platform is back on track, prompting an upward revision of earnings estimates.
UBS has increased its investment in Microsoft and Meta Platforms while reducing its stakes in Apple, Alphabet, and Amazon, driven by optimism in artificial intelligence's long-term value. The firm highlights Microsoft's leadership in generative AI and Meta's strong execution in digital advertising and AI models, viewing current market volatility as an opportunity for strategic long-term investments in AI. UBS emphasizes that AI represents a significant innovation with promising growth potential over the next few years.
Sundeep Gantori from UBS Global Wealth Management advocates for diversified investments in the expanding AI market, emphasizing the importance of including emerging players, particularly from China. He predicts that AI spending outside the Big 4 tech companies will surge to over 40% by 2025, driven by new entrants and increased capital expenditures. Gantori expects global AI spending to reach $360 billion in 2025, with a significant rise in sectors like high-bandwidth memory and industrial infrastructure, indicating a healthier, less volatile market landscape.
Barclays has raised its price target on Microsoft to $494 from $430 while maintaining an overweight rating. Microsoft leads in operating systems and software development, with net sales primarily from operating systems (49.4%), cloud-based applications (25%), and gaming (8.8%). The U.S. represents 50.9% of its net sales.
Visa is launching Visa Intelligent Commerce, an initiative to integrate AI into digital payments, allowing AI agents to autonomously discover and purchase goods for users. This system connects AI-driven discovery with seamless payment execution, enhancing trust and security in transactions.Key features include AI-Ready Cards for secure transactions, AI-Powered Personalization for improved shopping recommendations, and Simple and Secure AI Payments with spending limits. The initiative builds on Visa's 30 years of AI expertise, aiming to transform digital commerce into a more personalized experience.
TikTok is set to invest €1 billion (US$1.14 billion) in a new data center in Finland as part of its "Project Clover" initiative, aimed at addressing European data privacy concerns. This investment is part of a larger €12 billion commitment over ten years to enhance data security amid rising regulatory pressures and geopolitical tensions surrounding data sovereignty. Finland is emerging as a key hub for data infrastructure, with significant investments from major tech companies leveraging its favorable climate and renewable energy resources.
Microsoft Corporation
Companies
| Symbol | MSFT |
| Name | Microsoft Corporation |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Software & Services |
| Industry | Software |
| Market | NASDAQ Global Select |
| Country | United States |
| State | WA |
| City | Redmond |
| Zipcode | 98052-6399 |
| Website | http://www.microsoft.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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