- Microsoft Corp (NASDAQ:MSFT) shares are trading lower on Monday for no company-specific news.
- The stock is up 30% YTD, signaling an upside from the ChatGPT frenzy.
- In 2023, Microsoft launched its AI-powered search engine, Bing AI, building on its partnership with OpenAI, intensifying rivalry with Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google.
- Also Read: Microsoft’s Premium ChatGPT Service Set to Supercharge Azure Growth: Analyst Predicts Even Wider Lead Over AWS
- Reports in April suggested Microsoft is developing its artificial intelligence chip code-named “Athena” to power the technology behind AI chatbots like ChatGPT.
- The early backer of ChatGPT-owner OpenAI has been working on the chip since 2019, and a small group of Microsoft and OpenAI employees is testing the chip.
- Other big tech companies, including Amazon.Com Inc (NASDAQ:AMZN)and Google, also make their in-house chips for AI.
- Google reportedly plans to add artificial intelligence chat and short video clips to its search results amid growing threats against its dominance.
- Price Action: MSFT shares traded lower by 0.91% at $307.81 on the last check Monday.
Morgan Stanley Maintains Equal-Weight on Rhythm Pharmaceuticals, Raises Price Target to $26
Morgan Stanley analyst Jeffrey Hung maintains Rhythm Pharmaceuticals (NASDAQ:RYTM) with a Equal-Weight and raises the price target from $16 to $26.
