Microsoft closes at record after revealing pricing for new A.I. subscription

Microsoft shares closed astatine a grounds connected Tuesday aft the institution announced pricing for its caller Microsoft 365 artificial quality subscription service.

The banal jumped 4% closing astatine $359.49. It's present up astir 50% for the year. The anterior grounds came connected June 15, erstwhile the banal closed astatine $348.10.

Microsoft's Copilot subscription work adds AI to the company's fashionable Office products similar Word, Excel and Teams. It volition outgo an further $30 per period and could summation monthly prices for endeavor customers by arsenic overmuch arsenic 83%, bringing successful further gross done recurring subscriptions.

The announcement shows however Microsoft is continuing to physique connected its suite of Office software, making it much charismatic for businesses that are seeking to adhd AI into their workflows. Microsoft has been pouring wealth into generative artificial intelligence, mostly done a multibillion-dollar concern successful OpenAI, the creator of ChatGPT.

Microsoft Copilot, first announced successful March, tin plan presentations, connection penning prompts, summarize meetings and fertile incoming emails. It's already being tested by 600 customers similar Goodyear and General Motors, though Microsoft hasn't said erstwhile it volition beryllium disposable to the wider public.

— CNBC's Hayden Field contributed to this report.

Subscribe to CNBC connected YouTube.