tangent
Microsoft’s stock soared 15% after reporting its AI work assistant, Microsoft 365 Copilot, now has more than 30 million paid users, up from 20 million in April. The company reiterated its spending goals for the year and signaled a possible expansion in fiscal 2027. Forrester analyst Tracy Woo said Microsoft’s quarterly revenue of $90 billion, which topped estimates of $87.6 billion, and the success of its Copilot signaled the firm’s data center buildout is “beginning to deliver returns.”
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key background
Meta, once a powerhouse stock that rarely showed vulnerability, has dropped nearly 18% this year following landmark court rulings and concerns around its AI buildout. Zuckerberg’s firm saw some relief earlier this month, posting its best week since 2024 during a five-session stretch ending July 10 that boosted Meta’s stock by more than 14%. That came as Meta rolled out Muse Image, a new AI model to be used as a tool for creating images, despite backlash from Hollywood unions, talent agencies and cybersecurity firms over privacy concerns.
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further reading
ForbesZuckerberg’s Net Worth Swells $12 Billion As Meta Ends Best Week Since 2024By Ty Roush