Why Microsoft Stock Tumbled 3.7% Today
Microsoft (NASDAQ: MSFT) had one of its more forgettable sessions on the stock market Wednesday, with its share price melting by 3.7% at closing time. Yet this had less to do with its own operations, and more to do with a move by a business in which it's invested. That decline was steeper than even the gloomy S&P 500 index's 2.2% fall on the day.In an article published this morning and citing an unnamed "person familiar with the matter," Bloomberg wrote that leading artificial intelligence (AI) company OpenAI is in active talks to acquire another privately held AI business called Windsurf. The deal's price tag is rumored to be around $3 billion. While OpenAI is a separate entity from Microsoft, the tech giant has invested considerably in the company. It also uses its technology in a number of its products. Continue reading
Microsoft (NASDAQ: MSFT) had one of its more forgettable sessions on the stock market Wednesday, with its share price melting by 3.7% at closing time. Yet this had less to do with its own operations, and more to do with a move by a business in which it's invested. That decline was steeper than even the gloomy S&P 500 index's 2.2% fall on the day.
In an article published this morning and citing an unnamed "person familiar with the matter," Bloomberg wrote that leading artificial intelligence (AI) company OpenAI is in active talks to acquire another privately held AI business called Windsurf. The deal's price tag is rumored to be around $3 billion.
While OpenAI is a separate entity from Microsoft, the tech giant has invested considerably in the company. It also uses its technology in a number of its products.
