Microsoft CEO praises the AI sector, says the tech giant is powering it

Microsoft CEO praises the AI sector, says the tech giant is powering it

Microsoft Corporation CEO Satya Nadella praised the developments in the field of artificial intelligence and the tech giant's role in powering it, while sharing the earnings results for the latest quarter. What Happened? Nadella highlighted some examples of Microsoft's innovation that helped the company's Cloud exceed $27 billion in quarterly revenue, up 22% and 29% in constant currency.

How do I buy Microsoft MSFT Shares?

Nadella said that the age of AI is upon us and Microsoft is powering it. He said that Microsoft is well positioned to become a leader in the AI segment because it has the most powerful AI supercomputing infrastructure in the cloud, which is used by customers and partners like OpenAI to train state-of-the-art models and services, including ChatGPT. The Microsoft CEO said last week that the company made its Azure OpenAI service available for more than 200 customers, and that already over 200 customers are using it. Nadella said that we will soon add support for ChatGPT, enabling customers to use it in their own applications for the first time. Why It is Important: Microsoft announced earlier this week that it was investing $10 billion in OpenAI and has become its exclusive cloud provider.

Alex Valatis, AI and Web 3 expert, predicted that Microsoft could beat Apple Inc., AAPL, Alphabet Inc., GOOG GOOGL and Meta Platforms Inc. META in 2023.

He said that this would happen because of chatGPT and Microsoft's diversification in the tech ecosystem.

The tech giant, Bing, is working on launching a new version of its search engine, Bing, using chatGPT, which will challenge the dominance of Google Search.

Read Next: ChatGPT Popularity Reportedly Leads To Google Declaring Code Red As Sundar Pichai Increases Involvement In AI Strategy