At its annual Build conference in Seattle, Microsoft (MSFT) unveiled an ambitious vision for the future of artificial intelligence (AI) agents, emphasizing their potential to operate seamlessly across various contexts, from individual users to entire organizations. The tech giant envisions an “open agentic web” where these AI agents can autonomously make decisions and execute tasks, thereby enhancing productivity and efficiency.
AI agents have rapidly become a focal point in the technology landscape, with major players like Microsoft and Salesforce (CRM) leading the charge in developing innovative solutions. These agents, whether semi- or fully autonomous, are designed to perform specific tasks, streamlining processes for users.
Scott Guthrie, Microsoft’s executive vice president of cloud and AI, shared insights with Yahoo Finance, noting, “What we’re seeing is AI development accelerating, and people moving from proof of concepts to working solutions that are truly driving business impact.” He expressed optimism about the momentum of AI, particularly as the agentic web begins to take shape. “Our key goal at Microsoft is to facilitate organizations, developers, and startups in keeping pace with the rapid evolution of technology,” he added.
In a notable development, Microsoft announced the availability of Grok 3, an AI model from Elon Musk’s xAI, on its Azure AI Foundry marketplace, further expanding its AI offerings.
On the stock market front, Microsoft shares closed up 1% on Monday, though they remained flat in pre-market trading on Tuesday morning.
In a separate announcement, US pharmaceutical giant Pfizer (PFE) revealed an exclusive licensing agreement with Chinese biopharmaceutical company 3SBio (1530.HK) Inc. for an experimental cancer treatment. Under this agreement, Pfizer will hold a global license to develop, manufacture, and commercialize SSGJ-707, excluding China. The treatment is currently undergoing clinical trials for various cancers, including non-small cell lung cancer and metastatic colorectal cancer.
Pfizer’s deal involves an upfront payment of .25 billion (£934 million) to 3SBio, with potential additional payments of up to .8 billion contingent on achieving specific development and regulatory milestones. Following the announcement, shares of 3SBio surged over 32%, while Pfizer’s stock showed little movement in pre-market trading.
Meanwhile, Taiwan-based electronics manufacturer Foxconn (2317.TW), known for assembling Apple’s (AAPL) iPhones, is set to invest nearly .5 billion in its Indian operations. According to a filing with the London Stock Exchange, Foxconn’s Singapore subsidiary will acquire 12.7 billion shares in Yuzhan Technology India at INR10 each, totaling approximately INR127.7 billion (.49 billion). This investment aligns with reports that Apple is shifting some iPhone assembly from China to India in response to changing trade dynamics.
In a significant market debut, shares of Contemporary Amperex Technology Co Limited (CATL) (3750.HK), the world’s largest electric vehicle (EV) battery maker, soared 16.4% on Tuesday, closing at HKD306.20 (£29.23). The company raised .6 billion in its recent listing, marking it as the largest IPO of the year. Investment director Russ Mould from AJ Bell commented on the strong demand for CATL shares, indicating that investors remain optimistic about the electric vehicle market, particularly in China.
On the London market, Vodafone (VOD.L) reported a full-year operating loss of €411 million, a stark contrast to the €3.67 billion profit from the previous year. This loss was attributed to non-cash impairment charges in Germany and Romania. Despite the challenging results, Vodafone launched the first tranche of a €2 billion share buyback program, which buoyed investor sentiment and led to a 1.6% increase in its shares.
Equity research analyst Matt Dorset from Quilter Cheviot described Vodafone’s results as mixed, noting that while revenue and earnings fell short of expectations, the guidance for the upcoming financial year showed promise, particularly in terms of free cash flow growth. However, he cautioned that challenges persist in Europe, especially in Germany, as Vodafone continues to rely on growth in Africa and Turkey to offset weaknesses in other regions.
