Microsoft (NASDAQ:MSFT)
Microsoft (NASDAQ:MSFT) has not been coy about the fact that it considers advancements in artificial intelligence technology as a significant driver of the company’s future development. The “multi-year, multi-billion dollar” investment that Microsoft is making in OpenAI, the company developing ChatGPT, is one of the best indicators of this.
On Monday, Morgan Stanley analyst Keith Weiss stated that among the major software firms moving into the cloud and AI industries, Microsoft stock is “best positioned to gain market share” because it concentrates on artificial intelligence. This was one of the reasons for his assessment.
Weiss, who has an overweight rating and a price target of $307 a share on Microsoft stock, stated that the results from a Morgan Stanley survey showed a “higher degree of cloud adoption” among enterprise customers in the long term. This places Microsoft in the driver’s seat for pulling in sales from overall IT budgets, and Weiss has a price target of $307 a share on Microsoft stock. According to Weiss, Microsoft was the most commonly named “the largest share gainer” of artificial intelligence and machine learning investment for the next few years. This is due to the fact that artificial intelligence is expected to expand from 3% of current IT spending this year to 9% in three years.
Weiss said that since Microsoft has partnered with OpenAI and because the company has a big installed base of consumers, “this opportunity goes well beyond search and even goes well beyond [Microsoft] Azure’s AI services.”
Earlier Monday, European MPs sent a letter to the European Parliament asking for additional regulations to make artificial intelligence technology more “safe and trustworthy.”
Featured Image: Freepik @ freepik
Author Shariq Khan 
