Microsoft announced a bunch of new AI tools yesterday at its Build 2025 developer conference in Seattle. CEO Satya Nadella highlighted updates to Copilot — though at this point, we're not just talking about a copilot, but at least five copilots.
 
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US Treasury bonds may have been downgraded, but the stock market wasn't. The S&P 500 shrugged off last week's Moody's decision and some unsettling trade talk out of China, erasing an early loss of 1% to finish up 0.1%, as did the Nasdaq 100. The Russell 2000 brought up the rear with a 0.4% decline. It's a continuation of a pattern we've been seeing recently, where any early dips are aggressively bought. That marks the sixth straight rise for the benchmark US stock index.
There'sa newfound calm on Wall Street, as few analysts are changing estimates up or down. With a red-hot rally erasing the S&P 500's 2025 losses, Wall Street analysts entered "wait and see" mode when it comes to the fundamental outlook for the companies they cover.
For months, the momentum of earnings-per-share revisions has been down, down, down. Prior to last week, there's been just one measly week so far this year where EPS revision momentum was up.No, really, we pulled the data.
For now, it looks like the bleeding has at least stopped. It's simply because analysts have stopped cutting estimates after the initial tariff-induced shock.
You can think of this as "analysts scrambled to take out their pencils and calculate how much large tariffs would hurt companies in their coverage universe, and delivered their first draft very quickly."
With this first draft complete, no one is going to be rushing to cut estimates again unless given a reason to do so by the economic data, a negative turn in tariff policy, or evidence that what's on the books is more of a headwind than originally thought.
So, what next? The reality is, there are a lot more challenges to the people running a profitable public company today than there were five months ago. Nobody's going to rush to change those estimates — these things take time, and would probably be reflected in prices well before that actually happens.
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Microsoftannounced a bunch of new AI tools yesterday at its Build 2025 developer conference in Seattle. CEO Satya Nadella's presentation also included cameos from some key AI leaders: OpenAI's Sam Altman (no rift to see here folks!), Tesla/X/xAI CEO Elon Musk, and Nvidia chief Jensen Huang.
Nadella highlighted updates to Copilot — though at this point, we're not just talking about a copilot, but at least five copilots.
Microsoft Copilot 365: an AI agent that lurks in your productivity suite of apps and can help generate PowerPoint slides, summarize Microsoft Teams meetings, or analyze your data.
Github Copilot: an AI tool that helps software developers generate, test, and debug code, which has evolved from an in-editor AI tool to an "asynchronous coding agent."
Microsoft Copilot: just a ChatGPT-style chatbot.
There's also Microsoft Copilot Studio, for building new AI agents, and Copilot Tuning, for fine-tuning your AI agents on your company's proprietary data.
Surely one of those will make money for Microsoft at some point, right? Lay enough chips on the table and you're bound to get a win somewhere (though not a distinct name).
THE TAKEAWAY
Microsoft wants to win AI, or at the very least not lose it. When you're a technology behemoth that has become synonymous with business software, you do what you know, plant a thousand flowers and water them with an ocean of money, and then, in a couple years, you cull what failed and whatever's left gets to be called "Copilot."
CFO Ellie Mertz spoke to Sherwood News about Airbnb's dramatic platform revamp and how it's pivoting to adapt to changing vacation habits as travel cools. And we had to ask about the new "premium offerings" with A-listers like Sabrina Carpenter and Patrick Mahomes.
StartEngine is the investing platform providing exposure to pre-IPO companies like OpenAI, Perplexity, and Databricks.1
After doubling their revenues YoY in 2024 ($23M to $48M)2, StartEngine's now tripled first quarter revenue YoY to a record $30M, based on its unaudited Q1 2025 financials.3
Earnings expected from Home Depot and Palo Alto Networks
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Investing in options carries unique risks. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
1. The underlying companies held by StartEngine Private Funds LLC, and StartEngine Private LLC (together, "StartEngine Private") are not participating or involved in the offering. The availability of company information does not indicate that the company has endorsed, supports or otherwise participates with StartEngine Private or any of its affiliates. StartEngine Crowdfunding LLC purchases shares from current and former employees, early investors, and advisors of the companies and sells the shares to StartEngine Private for each offering. When you make an investment in a company on StartEngine Private, you are purchasing an interest in a series of StartEngine Private Funds LLC or StartEngine Private LLC, each a Delaware limited liability company (together the "Series LLCs"), which were created to hold shares of privately held companies. An investor will not directly own or hold shares of the private company but instead will own member interests in a series of the Series LLCs, which either directly or indirectly, will hold shares in the company. There may not be a one-to-one economic parity on the value of the Series LLCs interests and the underlying shares.
2. Based on our 2024 Form 10-K. This revenue growth has been driven by StartEngine Private, a new product line that offers funds in late stage companies. This product line has driven over $28 million of the $48 million in revenue from 2024. Net loss also increased to $16.5 million. To understand the impact on margins, see financials.
3. Based on our Q1 2025 Form 10-Q. This revenue growth has been driven by StartEngine Private, a new product line that offers funds in late stage companies. This product line has driven over $24.6 million of the $30 million in revenue from Q1 2025. To understand the impact on margins, see financials.
4. This is a paid advertisement for StartEngine's Regulation A offering. For more information, please see the most recent Offering Circular and Supplements and Risks related to this offering.
This Reg A+ offering is made available through StartEngine Crowdfunding, Inc. No broker-dealer or intermediary involved in offering. In addition, as described in the Offering Circular, the Company retains the right to continue the offering beyond the Termination Date, in its sole discretion.
Investing in private company securities is not suitable for all investors. This investment is highly speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.. It should only be considered a long-term investment. There is no guarantee that a market will develop for such securities.
 
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