London Stock Exchange Group PLC shares rose 2.6% on the back of its results as it announced a larger dividend than expected and a £500 million share buyback. The financial exchange and data group declared a full year dividend of 130p, which was 5% higher than expectations.
Amazon revealed its first chip for quantum computing, and said its design will help the online retailer build highly efficient hardware systems. The company is showing off Ocelot a week after Microsoft announced its inaugural quantum chip
Microsoft will call for U.S. President Donald Trump's team to ease the limits on chips that can be used in data centers for training AI models so they no longer apply to a group of U.S. allies, including India, Switzerland and Israel, the Wall Street Journal reported on Thursday.
Microsoft says that it has completed a multi-year project to allow Europe-based customers using its cloud services to store and process data in the EU.
Stock splits, particularly in the tech sector, have gained attention in recent months. As stocks such as Nvidia and Broadcom rose above $1,000 per share, they each executed stock splits, probably in an attempt to attract more prospective investors.
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Microsoft's (NASDAQ: MSFT) technical indicators are displaying a concerning outlook for the stock as the equity continues to take a hit from the broader market sell-off.
The artificial intelligence (AI) arms race has yet to wrap up, but big tech is already starting a new one: the quantum computing arms race. Several big tech companies have seen the raw computing power required to create these cutting-edge AI models, and it's clear that classical computing will work, but quantum computing is starting to become feasible for similar price points.
Goldman Sachs analyst Kash Rangan reiterated a Buy rating on Microsoft Corp MSFT with a price target of $500.
A TD Cowen analyst said that Microsoft had canceled plans for new data center developments. The news suggested that the staggering forecasts for data center growth could be overblown.
Over the course of the last 30 days, the price of Microsoft stock (NASDAQ: MSFT) has dropped by 7.71%. At press time, MSFT shares were trading at $401.05, marking a 4.85% loss on a year-to-date (YTD) basis.
Microsoft is reportedly shrinking its data center footprint.