Microsoft Sales, Profit Beat Expectations on AI Demand
Microsoft Corp.’s quarterly sales and profit climbed more than projected, lifted by corporate demand for the software maker’s cloud and artificial intelligence offerings.
Microsoft Corp.’s quarterly sales and profit climbed more than projected, lifted by corporate demand for the software maker’s cloud and artificial intelligence offerings.
Elon Musk’s artificial intelligence startup X.AI Corp. is nearing a deal to raise $6 billion in a funding round that would value the company at $18 billion, according to a person familiar with the matter.
Stellar earnings reports from Microsoft Corp. and Alphabet Inc triggered an after-hours tech rally that sent US futures higher. A selloff in Treasuries drove benchmark yields to new highs for the year.
Intel Corp., the biggest maker of personal computer processors, tumbled in late trading after giving a lackluster forecast for the current period, indicating that it’s still struggling to return to the top tier of the chip industry.
The possibility of a more hawkish tilt by the Bank of Japan at this week’s policy meeting means it may be too early to call time on the rallies in banks and other value stocks.
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