Disruptive technology - Week 3 – US Bellwether Blast: MSFT’s Q223 earnings

Davy Research
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Two things hit us from the Q223 print: 1) the cautious commentary around the demand environment for digital services and 2) Microsoft’s (MSFT) further investment in OpenAI. MSFT’s scale and reach makes for a great bellwether of macro trends. In terms of our coverage, where MSFT sees challenged digital investment, Darktrace, GB Group and Kainos will too. The OpenAI investment is fascinating and opens up a Pandora’s box to wider AI-centric innovation and disruption.