WS #15308
Microsoft is being upgraded to 'Buy' by Melius with a $665 target, driven by expectations of Azure growth exceeding 50% and increased corporate spending on AI security and governance. In the hardware space, Cerebras Systems shares are rising after OpenAI CEO Sam Altman publicly identified it as a 'close partner,' validating its role in the AI infrastructure build-out. However, the broader chip sector faces friction from a Delaware dispute between ARM and Qualcomm, and Intel continues to face competitive pressure from TSMC.
Tech Divergence and AI Infrastructure
Microsoft is being upgraded to 'Buy' by Melius with a $665 target, driven by expectations of Azure growth exceeding 50% and increased corporate spending on AI security and governance. In the hardware space, Cerebras Systems shares are rising after OpenAI CEO Sam Altman publicly identified it as a 'close partner,' validating its role in the AI infrastructure build-out. However, the broader chip sector faces friction from a Delaware dispute between ARM and Qualcomm, and Intel continues to face competitive pressure from TSMC.