Microsoft CFO says OpenAI investment will cut into profit this quarter
Publishing timestamp: 2024-10-30 21:33:41
Summary
Microsoft CFO Amy Hood announced that the company will record around $1.5 billion in other expenses due to expected investment losses at OpenAI. Despite the losses, Microsoft's partnership with OpenAI is still delivering results. The massive investment in OpenAI is weighing on earnings, but Microsoft remains optimistic about their collaboration. Other tech giants like Amazon are also investing heavily in AI companies.
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