Microsoft achieved an all-time high in its stock price following the announcement of the pricing for its new A.I. subscription service

Microsoft achieved an all-time high in its stock price

Microsoft’s shares reached a new peak on Tuesday as the company disclosed the pricing details for its latest offering, the Microsoft 365 artificial intelligence subscription service. The stock surged by 4%, reaching $359.49, and has experienced an impressive 50% increase over the course of the year. Previously, the highest record was set on June 15, with the stock closing at $348.10.

The new Copilot subscription service from Microsoft integrates AI capabilities into their popular Office products like Word, Excel, and Teams. Priced at an additional $30 per month, it has the potential to boost monthly expenses for enterprise customers by up to 83%, generating more revenue through recurring subscriptions.

This announcement underscores Microsoft’s ongoing commitment to enhancing its suite of Office software, making it more appealing to businesses in search of AI integration in their workflows. The company has been heavily investing in generative AI, particularly through a substantial investment in OpenAI, the creator of ChatGPT.

Microsoft Copilot, which was initially unveiled in March, boasts various features such as designing presentations, providing writing prompts, summarizing meetings, and prioritizing incoming emails. Although it is currently being tested by 600 customers, including notable names like Goodyear and General Motors, Microsoft has yet to reveal a specific date for its public release.