Docusign is acquiring Suplari, a company that uses AI to analyze corporate spending and supplier data, five years after Microsoft bought the startup and nearly three years after its founding team bought it back.
Microsoft and Amazon shares are rising sharply on Wednesday, with one portfolio manager noting that a cloud-supply crunch could help the companies raise prices.
Many of the biggest technology companies are surging on Wednesday, after Democrats scored a seismic victory in the midterm elections, flipping both the House and Senate. Tuesday's election results remove uncertainty in the market, David Kelly, chief global strategist at JPMorgan Asset Management, said on "Squawk on the Street.
Shares of major cloud technology companies rose on Wednesday despite Democratic victories in the US midterm elections, raising the prospect of tighter restrictions on artificial intelligence data centres. Amazon stock AMZN climbed more than 7% to $271.49 in morning trading, leading gains among the major cloud providers.
Microsoft's earnings reports usually get judged on a few numbers: Azure growth, capital expenditure, and how fast enterprises are adopting AI. Active traders tend to view it from a different angle.
Microsoft is offering buyouts to about 60,000 of its employees. Employment law attorney Craig Levey said that buyout programs can be "writing on the wall" about future layoffs.
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