#AI: Windows’ #Copilots, Coming Soon to an App Near You

Microsoft's Sudden AI Dominance is Scrambling Silicon Valley's Power Structure 

The company has quietly cornered the growing software market—and it's preparing to cash in.

Nadella's team hasn't disclosed pricing on the forthcoming Copilots, but they definitely won't be free. GitHub's version starts at $10 per user per month, and Copilots for Microsoft's office apps could be similarly priced, translating into as much as $48 billion in extra annual revenue within the next four years, according to Kirk Materne, an analyst with Evercore ISI. In a research note published on June 2, he estimated that Microsoft's revenue from OpenAI-powered features could hit $99 billion by 2027. That would be like adding three Netflixes to the top line of the world's second-most-valuable public company. In early trading on Thursday, Microsoft's share price was on course to close at an all-time high.

Reciprocal deposits

Reciprocal deposits make up just 2% of the $10.4tn in deposits insured by the FDIC, but they made up a notable 15% of the growth in insured deposits in the first quarter.

PacWest's reciprocal deposits rose 60 per cent in the first quarter to $6.7bn and now make up 23 per cent of its overall deposits.

See more on the FT here: https://on.ft.com/3Wx0DD9

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London’s property market, like many other metropolises, has become an inheritocracy

Thirty years ago, the average first-time buyer in London needed a deposit of less than £24,000. That has increased six-fold since, to more than £147,000, adjusting for inflation…Fewer than a quarter of Londoners owned a home with a mortgage in 2021, a drop of 10 per cent from a decade earlier…

See the whole story in the FT here: 

https://www.ft.com/content/fd29c715-8d12-459c-980e-11b58a4a374c