Microsoft Winning AI Wars

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Market Overview
Read time 1.9 minutes

Year To Date Performances:

1. Amid a stellar month marked by soaring stock prices and robust earnings, Microsoft's crowning achievement might just be its investment in ChatGPT, which has skyrocketed in valuation. With ChatGPT reaching a milestone of 100 million weekly users, Microsoft's strategic $30 billion bet on OpenAI's brainchild now boasts a valuation exceeding $90 billion. The AI sensation fueled further excitement with its recent updates announcement, promising to bolster Microsoft's product lineup even more. Just last week, Microsoft launched AI-powered enhancements to its Office suite and introduced a new AI assistant for Windows 11, showcasing the power of OpenAI's models. In a move to dominate the cloud services sphere, Microsoft is also creating incentives for developers crafting apps on OpenAI to utilize its Azure cloud infrastructure, setting the stage for an intensified race in the cloud sector.

2. Nelson Peltz, the CEO of Trian Fund Management, is poised on the edge of a formidable proxy battle targeting Disney's board, with all eyes on Disney's Q3 earnings release this Wednesday. Holding a substantial $2.5 billion stake in Disney, Peltz's strategy may pivot based on the earnings outcome, as reported by CNBC. As Disney announces plans to slash 7,000 jobs this year, Peltz is keen to discern whether these cuts and content expenditure reductions are translating into tangible profit gains. Ideally, Peltz seeks a smooth entry into a board seat, avoiding a formal nomination showdown, but given Bob Iger's less-than-enthusiastic stance towards him, a direct nomination by the January 4th deadline might be Peltz's only path to the boardroom.

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4. Headlines

   1. Disney topped earnings expectations as ESPN+ outpaced growth expectations.

   2. Softbank has announced a $6.2B loss days after one of its largest investments, WeWork, went bankrupt.

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