BUZZ-Microsoft shares slip; co cuts about 4,800 jobs amid AI spending

Microsoft Corporation

Microsoft Corporation

MSFT

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** Shares of Microsoft MSFT.O down 1.6% at $384.35

** The company announces cutting about 4,800 jobs — 2.1% of its workforce — amid heavy spending on AI infrastructure

** Big Tech's historic AI outlays, set to top $700 bln this year, are piling pressure on companies to show returns from the technology and offset the rising cost of rolling it out across their businesses

** MSFT says also considering options for the Xbox gaming unit, which has seen declining revenue despite over $20 bln in investment over five years, prompting a potential restructuring or spinoff

** Including session moves, MSFT down 20.5% YTD


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