Is Microsoft Now the AI Stock to Beat?
2023 is just getting started, but the buzzword of the year in the tech world is already clear. Big tech firms can't stop talking about AI, and it's easy to see why. OpenAI's launch of ChatGPT has transformed the public's perception of what artificial intelligence is capable of, and the potential applications for the business world and beyond are vast.
The start-up tech company is backed by Microsoft (NASDAQ: MSFT), which invested $1 billion into it in 2019 and just said it would invest billions more into the revolutionary tech company.
Not surprisingly, AI was a major theme in Microsoft's earnings call, and while the company's results were underwhelming due to headwinds in the PC market, among other factors, its moves in artificial intelligence are what long-term investors should be focused on now.
Source Fool.com
