Microsoft set to soar $300b via ChatGPT, AI.

Microsoft is set to benefit from the rise of AI, according to a research note by Wedbush's Dan Ives. Ives believes that ChatGPT will be the next step in Microsoft's growth, and has upped his price target from $340 to $375 a share, up 13% from its current $333 level. This could add $300 billion to its market capitalization. This follows Nvidia posting stunning gains last week due to AI boosting its sales. Microsoft is integrating ChatGPT and AI into its business model, such as Azure cloud, Bing search engine, and Office 365 suite. Ives expects Microsoft to benefit similarly to Nvidia, and has noted that numerous conversations with Microsoft customers and partners show that the monetization opportunities for Redmond around AI and ChatGPT are happening faster than expected. Microsoft shares are already up 39% this year, due to the ChatGPT craze and the expectation that the Federal Reserve will soon pause its interest-rate hiking campaign.