"Artificial intelligence (AI) has changed the way we look at every industry. Businesses are setting aside millions to invest in AI and remain ahead of the competition. While AI is here to stay, the AI software market is expected to keep growing at a rapid pace. It will grow faster than generative AI solutions. Two companies at the forefront of the AI race, Microsoft Corp. ( NASDAQ: MSFT) and Palantir Technologies ( NASDAQ:PLTR ), are soaring amid the bull market."
"Today, Microsoft owns about a 27% stake in OpenAI, which is huge, considering OpenAI is aiming for a $750 billion valuation to raise money. As OpenAI succeeds, so will Microsoft. Over time, the company has also become a leader and has seen impressive revenue growth in the cloud computing segment, Azure. The demand for Azure is growing, and Microsoft has developed new AI products and solutions for the customers."
AI adoption is accelerating across industries and the AI software market is projected to grow rapidly, outpacing generative AI solutions. Microsoft and Palantir are prominent AI-focused companies with distinct products, clients, and AI approaches. Microsoft holds about a 27% stake in OpenAI, which targets a $750 billion valuation, and Microsoft’s Azure cloud segment reported strong growth. Microsoft posted $77.67 billion in revenue and $4.13 EPS in the quarter, with Azure revenue of $30.9 billion, up 40% year over year. Capital expenditures totaled $34.9 billion, management plans higher capex, and customer backlog stood at $392 billion.
Read at 24/7 Wall St.
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