Microsoft’s multi-billion dollar investment in AI is paying off, with CEO Satya Nadella revealing that the AI business is set to surpass a $10 billion annual revenue run rate next quarter. The company has made significant investments in OpenAI and has experienced growth in Cloud revenue, reaching $38.9 billion for the quarter. Despite better-than-expected earnings, Microsoft’s shares fell due to lower predicted cloud revenue growth.
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Why Shares of Tesla Are Soaring Today
Shares of Tesla (NASDAQ: TSLA) rose nearly 4% after CEO Elon Musk updated the status of the company's robotaxi fleet, amid indications that electric vehicle sales may be improving. Notably, wait times for the Model Y have increased from one to three weeks to four to six weeks, suggesting a rise in orders despite recent declines in sales over the first two quarters of the year. Want More Context? 🔎
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