Benzinga
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Microsoft ($MSFT@US) shares reached a record high after JPMorgan Chase ($JPM @US) analysts praised the company's growth potential in artificial intelligence. The stock rose 3.2% to close at $348.10, surpassing its all-time high in November 2021. The success of Microsoft-backed OpenAI's ChatGPT chatbot, which gained significant attention, contributed to the positive sentiment surrounding AI. Microsoft benefits from its investment in OpenAI and exclusive licensing of its models, including the GPT-4 language model. The company has integrated OpenAI tools into its Bing search engine and Windows operating system. Investors want to see how AI developments impact Microsoft's earnings and revenue. Microsoft's stock has fully recovered from losses experienced in 2022, and the company is capitalizing on the renewed optimism driven by AI advancements and cost-saving measures in the tech industry.

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