Microsoft stock falls after Build 2023 announcements
The stock of the tech giant closes down 1.84% at $315.26 in New York
PremiumMicrosoft Corp. stock fell on Tuesday after it announced key highlights of Build 2023.
The stock of the tech giant closed down 1.84% at $315.26 in New York.
The tech giant on Tuesday made several announcements on how it is expanding use of artificial intelligence (AI) across its apps and services, including in Windows 11, Microsoft 365 and more.
Microsoft launched wide-range of AI tools for its various products to narrow the gap with Alphabet Inc's Google.
Key announcements at Microsoft Build 2023 include, AI Copilot for Windows 11, Microsoft 365 Copilot will now support plug-ins, Microsoft Edge will now come with a 365 Copilot integration, AI upgrade for Windows Terminal, and Bing will be now ChatGPT’s default search engine.
The updates to Bing are part of Microsoft's effort to capture more of the estimated $286 billion market for search advertising globally.
“This is a profound change to how people will use the web," said Yusuf Mehdi, Microsoft's consumer chief marketing officer.
Recently, Google has also showcased AI upgrades for its search engine.
In recent past, investors have increased their focus on technology companies such as Microsoft Corp. and Alphabet Inc., which are bulking up their AI efforts.
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