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🔋 Biden set to impose tariffs on China electric vehicles

🤖 Arm shares tumble after its annual revenue forecast fails to impress investors

🇯🇵 Japan economy expected to shrink in Q1 due to weak consumption

🪙 How to sort zombie blockchains from the living

🇬🇧 UK economy exits recession

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AI

Microsoft is a bet on AI

Microsoft is seen by many as a solid bet on the advancement of AI. Let’s break down why many believe this to be the case.

AI Integration and Financial Gains: Microsoft has leveraged its Azure cloud computing division to cater to the growing demand for AI technologies.

In the latest quarter alone, sales in Microsoft’s cloud division surged 21% to $26.7 billion, outpacing both analysts' expectations and company guidance. Additionally, Microsoft's GitHub Copilot has gained traction, boasting 1.8 million customers—up from 1.3 million in the previous quarter. This platform's success is partly thanks to an AI-coding assistant powered by OpenAI's large language model, which enhances developer productivity by predicting lines of code.

Strategic Partnerships and Future Outlook: Microsoft's partnership with OpenAI, initiated in 2019, was a strategic decision by CTO Kevin Scott, who recognized the accelerated pace of AI development early in his tenure. This collaboration is described as a calculated bet on OpenAI's capabilities, aiming to solidify Microsoft's leadership in AI.

Expansive Investments and Economic Impact: Further bolstering its AI endeavors, Microsoft has announced a significant $3.3 billion investment to construct a data center in Wisconsin. This venture is expected to create thousands of jobs and is seen as a strategic move in a key presidential election battleground.

Long-Term Strategy and Market Position: Wall Street estimates Microsoft's annualized revenue from generative AI technologies to be around $4 billion. The company's strategy to create a new computing interface for AI—akin to the role Windows played for office workers—is indicative of its long-term vision.

With more than 400 million users of its Office 365 suite, Microsoft is uniquely positioned to leverage its vast customer base in rolling out new AI-driven functionalities.

Economy

The UK is back in business

Britain's economy has emerged from its recent slump, registering a robust 0.6% GDP growth in the first quarter of 2024, marking the most significant expansion since late 2021.

This development came as a surprise, signalling an end to the recession that gripped the nation in the latter half of the previous year. There was a notable 0.8% rise in the production sector and a resurgence in service sector activities.

The positive economic data has had immediate effects on financial markets, with London's FTSE 100 climbing to a record high, reflecting a 0.5% increase, while the mid-cap FTSE 250 also saw gains. The sterling appreciated slightly against the dollar.

Prime Minister Rishi Sunak has hailed the growth figures as a sign that the UK economy has "turned a corner," although the opposition remains critical, pointing to the difficulties of recent years. This economic rebound is timely for Sunak, coming ahead of an impending election, offering a much-needed boost to his economic credentials amidst challenging political tides.

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