Microsoft’s AI bet faces investor scrutiny as OpenAI ties weigh on earnings
Microsoft stock dipped about 2–3% to around $374 after Q2 FY2026 revenue of $81.27B beat estimates and Azure grew 39% year over year, but investors remain focused on OpenAI dependence and earnings quality. The company’s capital expenditure jumped to $29.9B, and OpenAI reported $3.1B in losses in Q1; Microsoft holds roughly 27% of OpenAI, with OpenAI warning that changes to the partnership could impact its business. Bank of America reiterated a Buy rating with a $500 price target, highlighting Azure’s backlog and AI upside despite near-term uncertainty.
