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BN PORTFOLIO – QUARTERLY RESULTS
Microsoft's September quarterly results were warmly received by investors yesterday, with the share price gaining 5% to reach a new all-time high of $345. Microsoft has a 6% weighting in the BizNews Webtrader portfolio and 8% in the smaller BizNews Shyft portfolio. The reason for this boost was an unexpected rise in revenues at its cloud computing platform, Azure, where income increased 29% year-on-year. Analysts had anticipated a number lower than the 27% growth seen in the June quarter. During the post-results conference call, CEO Satya Nadella attributed this outperformance to the company's decision to build a single, unified technology platform to support its Artificial Intelligence services. More than three years ago, Microsoft invested $1 billion in OpenAI (the company behind ChatGPT) and has since incorporated these models into the core of its AI infrastructure.
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