Benzinga - by Zaheer Anwari, Benzinga Contributor.
- Microsoft recently announced plans to invest €4 billion to enhance its Cloud and AI infrastructure in France.
- Microsoft's stock has shown resilience, recovering about 9% after a near 10% decline, with potential for a move towards $500.
Microsoft's investment will focus on several key areas. First, they plan to train over a million people, giving them the skills needed for the digital economy.
Additionally, Microsoft aims to support around 2,500 startups in France by 2027. This initiative will boost the local tech ecosystem and show Microsoft’s commitment to nurturing future technologies.
This announcement follows their previous €15 million investment in the Parisian AI startup Mistral AI, which highlights the company's dedication to advancing AI technologies and their confidence in the French tech industry.
From a financial standpoint, Microsoft’s stock is showing strong signs of recovery. After a nearly 10% decline between March and April, with the stock price falling below $400, there has been a significant rebound back towards previous levels.
The stock has recovered about 9%, climbing back above $400. So far in 2024, it has risen by 12%, continuing its long-term trend that started in 2009, with a growth of 2445%.
The current momentum could drive the stock to exceed the all-time high of $430, set on March 21st. If it breaks this level, there is potential for it to rise further towards the $500 level, a key psychological resistance zone.
After the closing bell on Friday, May 24, the stock closed at $423.08, trading down by 1.57.
This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.
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