[MS] 데이터센터 취소의 진실...MS가 현명한 이유 (EP.2) | 고태훈 | 장재창 | 미장원

Brief Summary

This video discusses Microsoft's current position in the AI race, the impact of CEO Satya Nadella, and investment strategies related to Microsoft stock. It covers Microsoft's shift to cloud services, Nadella's leadership qualities, and the potential of Microsoft's B2C services. The discussion also includes a comparison with other tech companies like Apple and an analysis of whether Microsoft's stock is currently a worthwhile investment, considering its stability and growth potential.

• Microsoft is strategically adjusting its AI investments, focusing on efficiency and specific B2B applications like coding agents.
• Satya Nadella's leadership has been crucial in Microsoft's transformation, emphasizing harmony and business acumen.
• While B2C services are important, they may require more time and a new "form factor" device to achieve profitability in the AI era.
• Investment strategies should consider Microsoft as a stable component within a broader portfolio, rather than a high-risk, high-reward stock.

AI Investment Landscape and Microsoft's Strategy

Microsoft is actively pursuing AI opportunities alongside competitors like OpenAI, Google, Meta, and Elon Musk's XA, aiming to transform the web to an agent-based model. Despite increasing investments in AI, Microsoft has canceled some data center contracts, possibly due to oversupply or a strategic shift towards projects like the Stargate project with OpenAI. CEO Satya Nadella is focused on improving software efficiency, leading Microsoft to reorganize data centers and adjust speeds, unlike other companies that are emphasizing the high demand for AI.

Satya Nadella's Impact on Microsoft

Satya Nadella's appointment as CEO marked a significant shift for Microsoft, fostering a more inclusive and open organizational culture compared to the previous CEO-centric environment. Nadella's leadership has driven Microsoft to a $2.5 trillion market capitalization in just 7 or 8 years, emphasizing harmony among employees and strong business acumen. His focus on cloud-first strategies since 2014 has led to consistent sales and profit growth, transforming Microsoft from an on-premise model to a subscription-based business, increasing profit stability and valuation.

Microsoft vs. Apple: CEO Abilities and Future Growth

The discussion compares Satya Nadella's leadership with that of Apple's Tim Cook, noting that Cook, a finance-oriented leader, has maintained impressive profit margins for Apple. Nadella's ability to push for cloud-first initiatives and read the future technology market is seen as crucial for Microsoft's growth. While Apple faces challenges in aligning business divisions on AI models, Microsoft's Nadella has demonstrated a better ability to guide the company through structural growth and technological advancements.

Microsoft's B2C Potential and Challenges

Microsoft is exploring B2C opportunities, including integrating AI into services like Xbox and Ring, and potentially partnering with Apple to make its browser the default search engine. However, B2C success requires significant development and a new "form factor" device, similar to how smartphones enabled the success of B2C companies in the internet era. The path to B2C profitability in AI is expected to be long, with infrastructure hardware, B2B hardware, and B2B software preceding successful B2C applications.

Investment Strategies and Microsoft's Stock

Microsoft's stock is currently viewed as a stable component within a broader portfolio, rather than a high-growth investment. Investors should consider rebalancing their portfolios to include Microsoft to mitigate upside risk, given its significant weight in the SP 500. While Microsoft's growth is steady, other areas like autonomous driving and humanoid robots may offer greater upside potential. Investing in ETFs focused on American software, where Microsoft is a leading stock, is recommended over direct stock investment for those seeking stability.