The tech giant declared a quarterly dividend of $0.83 per share, reflecting an 8 cent, or 10%, increase over the previous quarter. In July, the company said it will spend more this fiscal year on AI infrastructure. It reported a 77.6% rise in capital spending in the quarter ended June 30, largely due to AI-related expenses.

Microsoft is increasing its quarterly dividend 10% and announced a new $60 billion stock-buyback program, matching the size of a repurchase plan three years ago. Mandeep Singh of Bloomberg Intelligence has more.

Copilot is the new UI for AI,” said Microsoft corporate vice president of AI at Work Jared Spataro at the reveal of Microsoft 365 Copilot Phase 2.

Some of the updates include an AI-assisted collaborative canvas which allows multiple users to interact, edit and make changes at the same time. In a blog post, Jared Spataro, corporate vice president of AI at work at Microsoft, called it "an entirely new work pattern -- multiplayer, human-to-AI-to-human collaboration."

Microsoft bets on AI agents and rolls out new features for 365 Copilot as it seeks to convince companies of the value of generative AI.

Key Takeaways U.S. equities were higher at midday as August retail sales were higher than anticipated and the Fed began a two-day meeting expected to produce interest-rate cuts. ,Intel said it was spinning off its contract chipmaking business and signed an agreement to make semiconductors for Amazon's Amazon Web Services.

Intel is turning its chip contract manufacturing business into an independent subsidiary, and Microsoft boosts its quarterly dividend and says it will begin a new $60 billion buyback program.