- cross-posted to:
- economy
- technology
- cross-posted to:
- economy
- technology
New York CNN — Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg.
When you’re just shy of a three trillion dollar company big jumps are harder. Plus with the stock up 15% for the month and up 56% for the year people’s, once balanced, portfolios are likely already overly committed to Microsoft based on how it’s performed this year. It’s hard to ignore a stock when it’s performing this well, this consistently, but it puts an investor in a precarious position. If you haven’t already invested based on the AI boom this year has brought, this wouldn’t have been a tipping point. It was a plus, but only a small plus comparatively. The shake up of OpenAI has much more potential for a big sell off for Microsoft than a buying frenzy. This was more silver lining on instability of a big bet Microsoft made.