The stock price of Microsoft (MS), which joined after Sam Altman, former co-founder and CEO of Open AI, was fired due to internal conflict, closed at an all-time high on the 20th (local time). On Wall Street in New York, stock prices are expected to rise further as the overall economy improves and additional departures of Open AI personnel are expected.
On this day, Microsoft’s stock price closed at $377.44, up 2.05% from the previous day. After the news of Altman’s dismissal was announced last Friday (17th), MS stock price fell 1.68%, but the increase that day more than exceeded the decrease at the time. $377.44 per share also surpassed the previous record of $376.17. Microsoft’s stock price has risen about 56% this year. On Wall Street, the market’s judgment that AI is the next generation technology continued to push up the stock price of Microsoft, which is considered one of the best companies in this field.
The market predicts that Microsoft’s stock price is likely to rise further. Dan Ives, an expert at Wedbush Securities, a Wall Street investment firm, told CNN, “Microsoft is now in a stronger position than any other company when it comes to AI,” and added, “The target price for Microsoft is $425.” There are also predictions that OpenAI’s engineers may follow Altman and move to Microsoft. Currently, more than 500 of OpenAI’s 700 employees have delivered a statement to the OpenAI board of directors saying, “If Altman and (co-founder) Greg Brockman are not brought back, we will move to Microsoft.” However, the market judgment is that Altman’s return is impossible as he has already joined Microsoft.
Meanwhile, the New York stock market closed generally higher on this day. The Dow average closed at 35,151.04, up 203.76 points (0.58%) from the previous day, and the Nasdaq, centered on technology stocks, closed at 14,284.53, up 159.05 points (1.13%). The S&P 500, which focuses on large-cap stocks, rose 33.36 points (0.74%) to 4547.38.