Microsoft stock booming on AI run
It's not a good time to be working for Microsoft, but it is a good time to be a shareholder or executive. Stock is up over 30%, net income is up and the CEO Satya Nadella got a nice 10% raise. Regular workers received no pay rise, or effectively a 5% pay cut due to inflation. Microsoft has rationalised it as pat and generic reasons like a "competitive environment" and the "global macroeconomic uncertainties". In reality, Microsoft is using the money to jump into the AI wave through a multibillion-dollar partnership with OpenAI.