Market analysts believe these updates will drive the consumption of Microsoft’s Azure product, positively impacting the company's shares. UBS analysts stated that "what is good for OpenAI is also good for Azure". Oppenheimer analysts also emphasized the mutual benefits of OpenAI’s success and Microsoft’s market performance. Microsoft has invested $13 billion in OpenAI and holds an exclusive license for OpenAI’s advanced GPT-4 large language model.
Key takeaways:
- Microsoft Corporation's shares reached a record high of $360.53 on November 7, increasing the company's market value to approximately $2.68 trillion.
- The surge in Microsoft's share price is believed to be significantly influenced by the new updates released by OpenAI, Microsoft's AI partner.
- OpenAI's updates include price reductions and plans to offer customizable versions of its ChatGPT chatbot, which could drive the consumption of Microsoft’s Azure product and positively impact the company's shares.
- Analysts affirm the mutual synergies between OpenAI’s success and Microsoft’s market performance, suggesting that what is good for OpenAI is also good for Microsoft.