Few will have failed to notice that Microsoft has been very active in the AI field this year. Under the Copilot banner, the tech giant has introduced numerous generative AI applications powered by the coveted technology of ChatGPT maker OpenAI. Whence the uptick? Speaking to , Jonathan Cofsky, portfolio manager at Janus Henderson Investors, manages to pinpoint Microsoft’s resurgence in particular. “It has a resilient business model, it is executing extremely well, it is a clear winner in AI, and overall it has the most secular tailwinds and fewer secular risks than other companies.” It just goes to show how fast things can change in the tech industry. For a long time, Microsoft was in the AI race against rival Google. Now, it has been the first to equip an operating system with central AI functionality and will continue to innovate unabated with new technology from OpenAI. Windows 10 could soon expect a Copilot upgrade as well. The cloud is showing growth (again aided by AI) A return to growth for Microsoft’s cloud services also drove the new record high market value. Azure is catching up with cloud leader AWS, which, on the contrary, is facing relative stagnation. Amazon’s offering is still on the rise, but the trend will do little to inspire confidence. Azure’s growth can be explained by the selection of that users of Microsoft’s cloud services can purchase. There are now 18,000 customers in that segment, a significant increase from the previous quarter: at that time there were “only” 11,000 customers.

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