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Microsoft (MSFT) just landed a massive $750 million cloud deal with AI search startup Perplexity, but investors aren't exactly celebrating, given MSFT stock tanked 10% following the company's latest earnings report.
According to a Bloomberg report, the Perplexity deal could be a key win for Microsoft's Azure cloud business. The deal allows the AI search company to deploy models from OpenAI, Anthropic, and xAI through Microsoft's Foundry service.