What To Know
This strategic partnership will explore joint development of future cloud solutions in Microsoft Azure to support their respective game and content-streaming services.
“Sony has always been a leader in both entertainment and technology, and the collaboration we announced today builds on this history of innovation,” said Satya Nadella, CEO of Microsoft. “Our partnership brings the power of Azure and Azure AI to Sony to deliver new gaming and entertainment experiences for customers.”
The companies will also explore collaboration in the areas of semiconductors and AI, according to the press release. For semiconductors, this includes potential joint development of new intelligent image sensor solutions.
Why It’s Important
Sony’s PlayStation and Microsoft’s Xbox are direct competitors in the video game console market.
Sony shares are trading up 4 percent to $51.89 Thursday afternoon. Microsoft shares were trading at $128.89.
Microsoft Corp. shares were trading at $128.46 per share on Friday morning, down $0.47 (-0.36%). Year-to-date, Microsoft Corporation (MSFT - Get Rating) has gained 27.01%, versus a 14.85% rise in the benchmark S&P 500 index during the same period.
This article is brought to you courtesy of Benzinga.