Microsoft’s stock rides AI elation toward first record close in two months

Microsoft’s stock rides AI elation toward first record close in two months

Company showed off Copilot productivity tools at Tuesday’s Build developer event

Microsoft Corp.’s stock headed for its first record close in two months Tuesday, a momentum related to the company’s latest artificial-intelligence announcements pushed the share price higher.

The technology powerhouse is in the midst of its Build developer conference, featuring announcements around products and software. Microsoft MSFT, +0.87% on Monday debuted new personal computers that integrate the company’s Copilot artificial-intelligence assistant. Tuesday’s announcements highlighted ways AI software can augment the working experience.

See also: Microsoft’s AI chatbot will have ‘photographic memory’ of everything you do on a PC

Microsoft shares gained 1.2% in Monday’s session, and they’re up another 1.2% in Tuesday action. Recently changing hands at $430.58, they’re on track to close at a fresh high. That would mark the stock’s first all-time high since it finished at $429.37 on March 21, according to Dow Jones Market Data.

The company remains the largest publicly listed U.S. business, with a $3.2 trillion market capitalization.

Similar to what rival Alphabet Inc. GOOG, +0.61% GOOGL, +0.53% did last week with its own AI event, Microsoft at its Build conference showcased how the technology can make people more productive. For instance, the company highlighted how AI could synthesize recent email communications from someone’s boss — and identify through context who that boss is — while also providing meeting summaries and title suggestions based on a slide deck.

“Team Copilot can be a meeting facilitator in meetings, managing the agenda, tracking time and taking notes,” Microsoft said in a release summarizing the updates. “It can act as a collaborator in chats by surfacing important information, tracking action items and addressing unresolved issues. It can serve as a project manager to help ensure every project runs smoothly and notify the team when their input is needed.”

Microsoft’s Monday announcements focused on AI PCs that bring tools like instant translations directly to a user’s device.

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