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cover of episode AI Winners and Losers: Navigating Volatility in the Tech Sector with Rishi Jaluria

AI Winners and Losers: Navigating Volatility in the Tech Sector with Rishi Jaluria

2025/2/5
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On The Tape

AI Deep Dive AI Chapters Transcript
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D
Dan Nathan
知名金融分析师和评论员,常在 CNBC 上提供市场分析和评论。
R
Rishi Jaluria
Topics
Dan Nathan: 我认为我们应该讨论生成式AI的应用案例,以及微软和谷歌最近的资本支出情况,以及市场对此的反应。同时,我也想了解一下买方对当前行业变革的情绪,以及私人投资市场的氛围。最后,我们还需要关注第四季度财报季结束后,行业的发展方向。 Rishi Jaluria: 我认为微软的股价受到Azure增长放缓的限制,尽管其AI收入表现强劲。微软的销售团队过于关注AI相关产品的销售,而忽略了非AI或AI辅助产品。不过,Office Copilot的年化经常性收入达到20亿美元,这表明微软在AI领域的执行力很强。总的来说,我认为微软在AI领域执行良好,拥有创新路线图,并且能够以其他软件公司无法做到的方式实现盈利。

Deep Dive

Chapters
This chapter analyzes Microsoft's recent earnings report, focusing on the deceleration of Azure growth and the surprisingly strong performance of AI revenue, particularly from Office Copilot. Despite sales execution issues, the chapter highlights the company's strong AI execution and innovative roadmap.
  • Deceleration in Azure growth
  • Strong AI revenue from Office Copilot ($2 billion ARR)
  • Sales execution issues impacting Azure sales
  • Overall margin expansion despite CapEx investments and R&D

Shownotes Transcript

Dan Nathan is joined by Rishi Jalaria) of RBC Capital Markets) to discuss generative AI use cases, capital expenditures, investor sentiment, and the current vibe in the private investing market. A significant focus is placed on Microsoft's recent performance, their CapEx allocation, and the deceleration in Azure growth, offset by the promising AI revenue from Office Copilot. They also delve into Salesforce's AI strategy, the blurred lines between copilots and agents, and the evolving landscape of enterprise software. Additionally, they explore the relationship between Microsoft and OpenAI amidst the broader context of AI innovation, with mentions of key players like Alphabet and Oracle. The discussion touches upon recent market volatility, the impact of CapEx announcements on stock performance, and the pivotal role of innovation in AI's future. Rishi also shares insights on underappreciated opportunities in vertical software and the expansive potential for generative AI applications in the sector. The podcast wraps up with a look at the broader implications of AI advancements and the intersection of power constraints and data center capacity in shaping the future tech landscape.

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