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Microsoft (MSFT) Shares Gain 4% after Unveiling Bing Chat Enterprise and Microsoft 365 Copilot Pricing
Microsoft Corporation (NASDAQ: MSFT) shares closed Tuesday trading at around $359, up 3.98 percent from the day’s opening price. The gains extended during the after-hours to trade at about $360.79. The slight change in the $2.57 trillion valued tech company was largely attributed to the announcement regarding its Artificial Intelligence (AI) development. According to a July 18 report by Yusuf Mehdi, Corporate Vice President and Consumer Chief Marketing Officer, and Jared Spataro, CVP of Modern Work, and Business Applications, the Bing Chat enterprise and Microsoft 365 Copilot pricing is ready for the customers.
Bing Chat Enterprise and Microsoft 365 Copilot Pricing
Notably, Microsoft introduced the AI-powered Bing earlier this year to help unlock creativity in web searches. Additionally, the company also introduced the Microsoft 365 Copilot, which combines the power of large language models (LLMs) with data from Microsoft Office to ease the work experience. Resultantly, the tech giant announced that millions of new users have incorporated Bing into their lifestyle for the first time.
The company further noted that the feedback from the Microsoft 365 Copilot Early Access Program indicated more users are ready to adopt the technology as a game changer for productivity.
Announcing Bing Chat Enterprise, the AI-powered chat for work with commercial data protection! Now you can take full advantage of Generative AI creativity at work with the confidence your confidential work information won’t leak outside your company. https://t.co/8q47eijGzl pic.twitter.com/OrkZbdLeIi
— Yusuf Mehdi (@yusuf_i_mehdi) July 18, 2023
As a result, Microsoft announced that it has increased its AI-powered Bing accessibility to more than 160 million people. Additionally, the company announced Microsoft 365 Copilot will be priced at $30 per user, per month for Microsoft 365 E3, E5, Business Standard, and Business Premium customers.
“…Bing Chat Enterprise unlocks generative AI for work. And Microsoft 365 Copilot brings a whole new way of working – reasoning over all your business data in the context of your enterprise, including the ability to ask questions and get answers from the web,” the company noted in a press release.
Microsoft and the Market Outlook
Microsoft has significantly invested in artificial intelligence (AI) amid significant global demand for such products. The tech giant has made strategic partnerships including with ChatGPT in a bid to enhance its Azure OpenAI and Microsoft cloud. Recently, Microsoft announced a strategic partnership with KPMG in a bid to empower its workforce of 265,000 globally through AI technology.
Additionally, Microsoft is also closely working with Meta Platforms Inc (NASDAQ: META) in order to bring its Llama family of large language models to Azure.
Consequently, the company’s future growth prospects have significantly increased, with 53 Wall Street analysts giving Microsoft shares an average rating of Buy despite rallying about 50 percent YTD.
Meanwhile, Microsoft is competing in the same industry of AI computing with Google, and IBM, among others. As a result, the company is on its toes to develop competitive AI products.
