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Microsoft CEO Satya Nadella speaks at the company’s Ignite Spotlight event in Seoul, November 15, 2022.
Seung Joon Cho | bloomberg | Getty Images
Microsoft Shares closed at a record high on Tuesday after the company announced pricing for its new Microsoft 365 artificial intelligence subscription service.
The stock jumped 4%, closing at $359.49. It’s now up about 50% for the year. The previous record came on June 15, when the stock closed at $348.10.
Microsoft’s Copilot subscription service adds artificial intelligence to popular Office products like Word, Excel, and Teams. It will cost an additional $30 per month and can increase monthly rates for enterprise customers by up to 83%, generating additional revenue through recurring subscriptions.
The announcement shows how Microsoft continues to build on its suite of Office software, making it more attractive to companies looking to add artificial intelligence to their workflows. Microsoft is pouring money into generative AI, largely through a multi-billion dollar investment in OpenAI, the creator of ChatGPT.
Microsoft Copilot, first announced in March, can design presentations, make writing prompts, summarize meetings, and arrange incoming emails. It is already tested by 600 clients like new Year And general motorsthough Microsoft hasn’t said when it will be available to the public more widely.
— CNBC’s Hayden Field contributed to this report.
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