Core Viewpoint - The Austrian data protection authority (DSB) ruled that Microsoft illegally implanted tracking cookies on devices used by underage students without consent, constituting a violation of data protection laws [1][2] Group 1: Legal Findings - The DSB has ordered Microsoft to cease tracking activities on the affected students within four weeks [1] - The ruling stems from a complaint filed by the digital privacy organization "noyb," which highlighted that Microsoft shifted data protection responsibilities to schools and failed to ensure students' rights to access their data [1] - This is not the first time Microsoft has lost a case regarding student tracking; a previous ruling in October 2022 also found Microsoft guilty of illegal tracking through its education platform [2] Group 2: Microsoft’s Response - A Microsoft spokesperson stated that Microsoft 365 Education complies with all necessary data protection standards and that educational institutions can continue to use it in accordance with GDPR [2] - Microsoft is currently reviewing the latest ruling and will decide on subsequent actions in due course [2] Group 3: Privacy Concerns - Felix Mikolasch, a lawyer from noyb, emphasized that tracking minors clearly violates privacy protection principles, suggesting that Microsoft does not genuinely prioritize privacy protection [2]

Core Viewpoint - Citigroup's report indicates that Microsoft's revenue and profit performance last quarter was robust, with Azure cloud business growing 38% year-on-year, slightly below market expectations of 39% to 40% growth [1] Group 1: Financial Performance - Microsoft's strong business order growth of 228% year-on-year was a key driver of performance, supported by the previously announced partnership with OpenAI and new contracts with Anthropic [1] - Capital expenditure reached $37.5 billion, exceeding market expectations of $34 billion [1] Group 2: Outlook - The quarterly performance outlook for Microsoft is mixed, with memory and supply chain issues leading to weakness in the personal computing (MPC) segment, which negatively impacted earnings per share [1] - However, the outlook for Azure shows a slight increase in growth expectations compared to the previous quarter and is slightly above market expectations [1] Group 3: Investment Rating - Citigroup currently maintains a "Buy" rating for Microsoft with a target price of $660 [1]

巴克莱：将微软(MSFT.US)目标价从610美元下调至600美元。 ...

这些投资将是发生在传奇投资人孙正义掌舵的日本投资巨头软银集团(SoftBank Group Corp.)计划投资 300亿美元之外的新增投资。在软银宣布即将再投资OpenAI之前，软银已经对OpenAI进行了多轮投资， 早在2024年9月就有报道过，软银旗下Vision Fund在OpenAI当时的融资轮中投资5亿美元，之后则是软 银在2025年3月31日与OpenAI签署"跟投最高400亿美元"的协议，并最终多期投资推进之下于2025年12 月完成这一投资协议。 OpenAI与软银都是"Stargate"(星际之门项目)的最核心参与者;"Stargate"是一项价值高达5000亿美元计 划，旨在在美国境内建设用于训练与推理的超大规模AI数据中心。 （原标题：?疯狂烧钱的OpenAI又来融资了! 前有软银斥300亿美元加码 后有英伟达、微软与亚马逊携手 砸钱） 智通财经APP获悉，有媒体援引知情人士透露的消息报道称，英伟达(NVDA.US)、微软(MSFT.US)以及 亚马逊(AMZN.US)正在商谈作为一轮重大新融资的一部分，向全球AI应用领军者OpenAI投资高达600亿 美元。知情人士表示，这家Chat ...

智通财经APP获悉，有媒体援引知情人士透露的消息报道称，英伟达(NVDA.US)、微软(MSFT.US)以及 亚马逊(AMZN.US)正在商谈作为一轮重大新融资的一部分，向全球AI应用领军者OpenAI投资高达600亿 美元。知情人士表示，这家ChatGPT开发者计划本轮融资500亿美元或更多，意味着估值将达到约7500 亿美元至8300亿美元的超级独角兽区间。 能够持续筹集到愈发庞大的新资金支持GPT系列AI大模型训练进程以及无比庞大的人工智能推理工作负 载，对于覆盖OpenAI不断上升的训练与运行其最前沿AI大模型成本而言至关重要，因为来自Alphabet旗 下谷歌的竞争压力正在不断加剧，迫使OpenAI加快节奏推出万众瞩目的"AGI"或者"ASI"。 据媒体报道称，现有投资方英伟达正洽谈投资最高300亿美元;同样已是投资方的微软则可能追加投资， 预计将低于100亿美元。此外，作为OpenAI新投资者的亚马逊可能投资逾100亿美元，甚至可能超过200 亿美元。 知情人士表示，亚马逊对OpenAI的投资规模可能取决于两家公司正在谈判的其他大型交易。OpenAI正 在初步讨论从亚马逊筹集至少100亿美元并使用 ...

Core Insights - OpenAI is planning an unprecedented financing round, with potential investments from Nvidia, Microsoft, and Amazon totaling up to $60 billion, aimed at addressing increasing computational demands and cash consumption pressures [1][2] - The total financing could reach up to $100 billion, with a pre-money valuation of OpenAI at $730 billion [1][3] Group 1: Potential Investors - Nvidia is negotiating to invest up to $30 billion, while Microsoft plans to invest less than $10 billion, and Amazon may invest over $10 billion, potentially exceeding $20 billion [1][2] - All three companies have significant technological partnerships with OpenAI, with Nvidia providing chips for AI model computations and Microsoft holding exclusive rights to sell OpenAI models to cloud customers [2] Group 2: Financial Implications - The financing will provide OpenAI with sufficient resources to cover operational and training costs for AI models, with estimated costs exceeding $430 billion from 2026 to 2030, and cash consumption nearing $70 billion during this period [3] - Successful completion of this financing round would significantly enhance OpenAI's financial advantage over competitors like Anthropic, which has projected revenues exceeding OpenAI's by 2029 [3]

英伟达、微软、亚马逊商谈投资 OpenAI。 ...

据报道，OpenAI 正从其一些最大的科技合作伙伴那里筹集巨额资金，力图筹集至高达 1000 亿美元，以 支持其 AI 日益增长的需求。据一位知情人士透露，英伟达是一家现有投资者，其芯片为 OpenAI 的人 工智能模型提供动力，目前正洽谈投资高达 300 亿美元。微软作为长期支持者，拥有向云客户销售 OpenAI 模型的独家权利，目前正洽谈投资金额不足 100 亿美元。而亚马逊作为新投资者，也正在洽谈 投资远超 100 亿美元，甚至可能超过 200 亿美元。两位知情人士表示，这些投资将是现有投资者软银的 补充，软银也在洽谈投资最高达300亿美元。如果这轮非凡融资成行，将能缓解对公司现金消耗的投资 者的担忧。公开市场投资者最近对 OpenAI 履行对甲骨文和微软的支出承诺的能力持怀疑态度。新一轮 融资前的公司估值可能达到 7300 亿美元。 责任编辑：王永生 据报道，OpenAI 正从其一些最大的科技合作伙伴那里筹集巨额资金，力图筹集至高达 1000 亿美元，以 支持其 AI 日益增长的需求。据一位知情人士透露，英伟达是一家现有投资者，其芯片为 OpenAI 的人 工智能模型提供动力，目前正洽谈投资高达 30 ...

28 January 2026 | 4:58PM EST Equity Research Microsoft Corp. (MSFT): 2QFY26 First Take MSFT is indicated down 4% after market after reporting 2Q26 results: We believe Callie Valenti +1(212)357-2790 | callie.valenti@gs.com Goldman Sachs & Co. LLC Selina Zhang +1(212)357-9979 | selina.zhang@gs.com Goldman Sachs & Co. LLC Praachi Arora +1(332)245-7970 | praachi.arora@gs.com Goldman Sachs India SPL c45a43530f604d12bcb9a82b5aa6b9f6 Key results: Other details Key commentary we're watching for on the call: Goldman ...

当地时间1月28日，微软公布了截至2025年12月31日的2026财年第二财季业绩。 尽管营收和净利润双双增长，但资本支出的大幅增长让微软股价在盘后下跌超6%。 财报显示，微软第二财季营收为813亿美元，同比增长17%。按美国通用会计准则计算，净利润为385亿美元，增长60%。按非美国通用会计准则，净利润为 309亿美元，增长23%。 该财季微软的资本支出达到375亿美元，同比增长66%，同时微软连续两个季度的资本支出创下新高。财报电话会议上，微软执行副总裁兼首席财务官艾米· 胡德（Amy Hood）表示，调整OpenAI影响后，第二财季微软其他收入和支出略呈负值，低于预期，主要由投资净亏损驱动。 第二财季大约三分之二的资本支出用于短期资产，主要是GPU和CPU，以支持不断增长的Azure平台需求、增加研发团队的资源以加速产品创新，以及在持 续更换已报废的服务器和网络设备之间取得平衡。剩余支出用于长期资产，以支持未来 15 年及更长时间内的盈利，其中包括67亿美元的融资租赁，主要用 于大型数据中心。 微软连续两个季度的资本支出创下新高。 在该季度，微软也面临着诉讼挑战。去年10月27日，澳大利亚竞争与消费者委 ...