Why Microsoft Stock Jumped While the Market Slumped Today
Microsoft (NASDAQ: MSFT) defied gravity on the stock exchange Wednesday, with its share price crawling up by nearly 2% against the S&P 500 index's 0.7% drop. Investors were encouraged by the announcement of a new advancement in the artificial intelligence (AI) business it's involved in, plus the tech giant's latest dividend declaration.
Microsoft is a leading shareholder of privately held OpenAI, developer of the white-hot AI program ChatGPT. So it wasn't surprising when investors bid up Microsoft's stock just after the latter announced the latest version of the app had gone live.
This is ChatGPT-4, a cutting-edge AI system that expands the capabilities of the existing program. Among other features, it allows users to input both text and image prompts to produce an intelligent and cleanly written response from the platform.
Source Fool.com
