- The market expects that Microsoft (MSFT.US) is likely to unveil new information related to ChatGPT
- The event will start around 18:00 - 21:00, GMT (10 AM - 1 PM, Los Angeles Time)
- The conference may bring higher volatility to Microsoft shares and AI companies like C3.ai (AI.US)
- Microsoft's event follows the company's January announcement of a new long-term investment in OpenAI, following previous two funding rounds in 2019 and 2021
Microsoft on Monday said it will hold a major event today, at . It did not officially reveal that it would be related to artificial intelligence. Markets circulated speculation that the affair would be related to AI after Microsoft CEO Satya Nadella met with OpenAI CEO Sam Altman in Redmond. In addition, the giant announced the event minutes after Alphabet (Google) announced the creation of 'Bard' it's own competitor to ChatGPT.
Built by OpenAI, ChatGPT automatically generates advanced creative text based on a powerful database. An automated AI image generator, Dall-E, has also attracted interest. 'Generative' AI turned out to be a 'technological hit,' with some people associated with the new technology industry starting to compare the event to the debut of the iPhone, in 2007. More recently, analysts at investment bank D.A.Davidson, indicated that the new AI tools being built by C3.ai could mean a revolution for the industry, similar to system Windows.
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Shares of Microsoft (MSFT.US) and C3.ai (AI.US, gold chart), D1 interval. The stocks have risen above the 200-session average (red line) in an attempt to reverse the downtrend. We can also see that there is a bullish double-bottom formation in the vicinity of $215, there is also a key support there. Comparing the price charts of the two companies, we see that the market reacted euphorically to the new AI trend, C3.ai shares have gained more than 150% since the beginning of the year. Source: xStation5
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