Microsoft CEO Satya Nadella speaks at the company’s Ignite Spotlight event in Seoul on November 15, 2022. Nadella delivered the keynote address at an event hosted by the company’s South Korean arm.
Sung Joon Cho | Bloomberg | Getty Images
Microsoft Shares closed at record highs on Tuesday after the company announced pricing for its new Microsoft 365 artificial intelligence subscription service.
The stock rose 4 percent to close at $359.49. It is now up about 50% this year. The previous record was set on June 15, when the stock closed at $348.10.
Microsoft’s Copilot subscription service adds AI to the company’s popular Office products like Word, Excel and Teams. It will cost an additional $30 per month, and the monthly price for enterprise customers could increase by 83%, bringing in additional revenue through recurring subscriptions.
The announcement shows how Microsoft continues to build out its Office software suite to make it more attractive to businesses looking to add artificial intelligence to their workflows. Microsoft has been investing heavily in the field of generative artificial intelligence, primarily through its multibillion-dollar investment in ChatGPT creator OpenAI.
First released in March, Microsoft Copilot can design presentations, provide writing prompts, summarize meetings and rank incoming email.It has been tested with 600 customers such as good year and General Motorsthough Microsoft hasn’t said when it will be available to the wider public.
— CNBC’s Hayden Field contributed to this report.
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