Microsoft (MSFT), a powerhouse in the tech industry, is stirring excitement with the formation of a new group aimed at developing cutting-edge artificial intelligence (AI) applications and offering tools for external developers.
Keeping a Competitive Edge:
This innovative team, dubbed “Core AI – Platform and Tools,” will be spearheaded by Jay Parikh, previously Meta Platforms’ global head of engineering. Microsoft CEO Satya Nadella shared in a memo that the group will focus on crafting an all-encompassing AI stack, or “Copilot,” designed for both first-party and third-party customers to create and manage AI applications and agents.
The timing of this initiative is significant, marking almost a year since Microsoft brought on DeepMind co-founder Mustafa Suleyman to lead its Copilot AI projects. Parikh and Suleyman will collaborate closely, along with other leaders in the tech space, ensuring that Microsoft stays at the forefront of AI development.
Searching for the Next Big Thing in AI
As AI continues to dominate discussions in tech, analysts are still on the lookout for that elusive “killer app” that can captivate consumers and drive revenue for Microsoft and its peers. After a surge in interest, especially in AI chatbots like ChatGPT, some experts have noticed a dip in engagement. Yet, being the largest investor in OpenAI, the creator of ChatGPT, places Microsoft in a prime position within the AI landscape. The company is actively integrating AI across various platforms, from Bing search results and Xbox games to its cloud services and Teams conferencing tools.
Nadella emphasized in his note to employees, “Our success in this next phase will hinge on having the best AI platform, tools, and infrastructure.” Encouragingly, MSFT stock has seen an 8% rise over the past year, reflecting some investor optimism.
Considering MSFT Stock?
The sentiment around Microsoft’s stock is notably positive, holding a consensus rating of Strong Buy among 29 Wall Street analysts. In the last three months alone, 27 analysts recommend buying, while only two suggest holding onto shares. Currently, the average price target for MSFT sits at $505.73, indicating a potential upside of approximately 21.39% from its current level.
To delve deeper into the latest analyst ratings for MSFT stock, make sure to keep an eye on market updates and expert opinions.
The AI Buzz Hub team is excited to see where these breakthroughs take us. Want to stay in the loop on all things AI? Subscribe to our newsletter or share this article with your fellow enthusiasts.
