Microsoft Corporation (MSFT) Making Startup Deals to Get Ahead in AI App Race

Opportunity abounds in the artificial intelligence app space, and Microsoft Corporation (NASDAQ:MSFT) is doing all that it can to keep pace with rivals. The company has just scooped up a small firm which specializes in making building AI models easier.

CNBC has the details on Microsoft’s acquisition.

Microsoft on Thursday said it has acquired Lobe, a small San Francisco start-up that focuses on making it easy to train and deploy artificial intelligence models. Terms weren’t disclosed.

Like Amazon, Google and other technology companies, Microsoft is focused on adding AI to its own services and offering AI tools to other companies. Acquisitions have helped these companies add talent in a trendy field.

In a nutshell, Lobe has an online interface for assembling models which doesn’t require any coding whatsoever. Microsoft chief technology officer Kevin Scott shared some insight on the deal in a blog post.

“We look forward to continuing the great work by Lobe in putting AI development into the hands of non-engineers and non-experts,” he wrote.

Microsoft Corporation shares were trading at $113.48 per share on Monday morning, up $0.11 (+0.10%). Year-to-date, MSFT has gained 34.38%, versus a 9.89% rise in the benchmark S&P 500 index during the same period.

MSFT currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 68 stocks in the Software – Application category.