Much of this rally can be traced back to the strong performance of artificial intelligence (AI)-related stocks.
Microsoft's cloud platform Azure is a major beneficiary of organizations migrating their workloads to the cloud, especially since IT spending optimization trends have stabilized. Plus, Azure's AI services have demonstrated top performance in training and inferencing multiple language models, making it an ideal choice for enterprise AI workloads.
Widely recognized for its Windows operating system and Office productivity suite, Microsoft is getting more attention these days for its strides in the generative AI space.
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