Microsoft unveils new Bing search engine powered by AI

Microsoft (MSFT.US) stock rose nearly 4.0% on Tuesday after the tech giant announced it will combine its Bing search engine with artificial intelligence. Company said this is one of its biggest efforts yet to lead a new wave of technology which will change the way of gathering information.

Microsoft in collaboration with startup OpenAI, plans to compete with Alphabet Inc's Google and potentially claim vast returns from tools that speed up all manner of content creation, automating tasks if not jobs themselves.

“This technology is going to reshape pretty much every software category," said Microsoft Chief Executive Satya Nadella.

Bing search engine will also operate on a new, next generation "large language model" that is more powerful than ChatGPT. A chatbot will help users refine queries more easily, give more relevant, up-to-date results, and even make shopping easier.

Microsoft (MSFT.US) stock is currently testing crucial resistance at $265.60, which is marked with upper limit of the 1:1 structure and 38.2% Fibonacci retracement of the upward wave launched in March 2020. Source: xStation5

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