Categories Earnings, Technology

Microsoft ups the ante on AI with Bonsai deal

Microsoft seems to be on a buying spree. Within 2 weeks after gobbling up code hosting platform GitHub for $7.5 billion, the company announced on Wednesday that it is purchasing Berkeley-based artificial intelligence (AI) provider Bonsai. With this deal, Microsoft (MSFT) ups the ante on the AI front compared to Amazon (AMZN), Google (GOOGL) and other tech giants, which are making faster inroads on machine learning and AI. The company hasn’t disclosed the acquisition price.

Bonsai, through its reinforcement platform, wants to democratize AI and machine learning and make it accessible for enterprises. Bonsai reduces the complexity in building autonomous platforms for its users who don’t have the AI know-how. It’s worth noting that Microsoft had already invested in Bonsai through its venture capital division M12. The AI firm has 42 employees on its rolls, and post the deal they will be joining the Microsoft Research AI group.

Related: Microsoft acquires Semantic Machines to boost AI capabilities

Microsoft plans to integrate Bonsai’s autonomous platform into Azure IoT, helping the Redmond-based firm to fill the gap in its AI offering. Now, the company can provide end-to-end offerings to its customers for autonomous deployment. It also gives the Azure provider enough ammunition to compete with its peers by providing the whole gamut of offerings ranging from basic to advanced AI solutions.

Microsoft AI acquisitionsGartner, in its recent research report in April, stated that AI-related businesses would be worth $3.9 trillion by 2022, a whopping 200% jump from $1.2 trillion expected in 2018. It also added AI will bring in disruptive changes across the board over the next decade as the companies globally look for ways to improve profitability while reducing costs to stay afloat amidst tough competitive landscape. Microsoft earlier has acquired AI-related companies like SwiftKey, Genee, Maluuba, and Semantic Machines to beef up its AI offering.

Related: Top stocks for AI enthusiasts

Most Popular

Here’s a look at Dollar Tree’s (DLTR) expectations for the remainder of the year

Shares of Dollar Tree Inc. (NASDAQ: DLTR) were down over 1% on Wednesday, a day after the company reported earnings results for the third quarter of 2022. Revenue and earnings

Target Corporation (TGT): A look at how the retail giant is shaping up against an inflationary backdrop

Shares of Target Corporation (NYSE: TGT) were up over 1% on Wednesday. The stock has dropped 30% year-to-date and 35% over the past 12 months. Last week the company reported

Is Zoom Video Communications (ZM) a good investment after Q3 earnings?

Zoom Video Communications (NASDAQ: ZM) expanded its customer base at an accelerated pace during the COVID crisis and soon became the preferred video conferencing platform for businesses and millions of

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top