Shares of Microsoft fell Wednesday while AMD's stock rose, showing the two sides of the current AI trade.
) started off the trading day on Wednesday heading in opposite directions as Wall Street digested the companies’ Tuesday evening earnings. Microsoft fell some 7% in after-hours tradingThe companies’ results and Wall Street’s reaction brought the two sides of the AI trade into stark relief, as traders showed their disappointment in Microsoft ’s AI software sales and exuberance over AMD’s chip sales.
Microsoft CEO Satya Nadella speaks during the Microsoft Build conference at Seattle Convention Center Summit Building in Redmond, Washington, on May 21, 2024.
“We believe the results and outlook for Azure AI are especially strong in light of the capacity constraints faced in and expects to continue to see in 1HF25 . More positively, management expects these issues to be alleviated by 2HF25, which should help drive a reacceleration in overall Azure revenue growth,” Mizuho analyst Gregg Moskowitz wrote in a note to investors Wednesday.
Of course, the AI trade is by no means settled, and we’re still in the early days of not only the infrastructure build out, but also in understanding how the software will impact businesses big and small, as well. In an interview with PEOPLE, the singer/guitarist discusses working with Stevie Wonder and crafting an album that balances "observations with a sense of hope"Nvidia shares were soaring as tech stocks led markets higher following strong results from AMD and a positive note from analysts at Morgan Stanley.
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