NEW YORK, Feb 13, 2026, 10:09 (EST) — Regular session
- Microsoft shares ticked up roughly 0.3% in the morning, following softer U.S. inflation numbers.
- Saudi Aramco has entered a non-binding memorandum of understanding with Microsoft, targeting industrial AI collaboration using Azure as the platform.
- Big Tech’s heavy AI outlays remain under the microscope—investors want results, calling this a “prove it” year for returns.
Microsoft shares ticked up 0.3% to $403.20 Friday morning, finding footing after a turbulent run for megacap tech.
U.S. inflation eased more than economists had forecast, giving growth stocks some breathing room after weeks of pressure from rate concerns. The Consumer Price Index posted a 0.2% gain for January, slowing to 2.4% on a year-over-year basis. Stripping out food and energy, core CPI increased 0.3% for the month and 2.5% over the past year, Labor Department figures showed. 1
Still, the real battle lines in the market are being drawn around the true value of AI spending. “You’ve clearly seen that breakdown in terms of the monolithic AI trade,” Garrett Melson, portfolio strategist at Natixis Investment Managers Solutions, said this week. Investors are already sorting through who’s up, who’s down. 2
Microsoft landed an early-stage AI customer mention this day, as Saudi Aramco announced a non-binding memorandum of understanding—a framework, not an actual contract—to look at potential industrial AI and digital projects using Microsoft Azure. Ahmad O. Al Khowaiter, Aramco’s executive vice president, said the goal is to ramp up “digital and AI solutions … without compromising the highest standards of security and governance.” Microsoft vice chair and president Brad Smith pointed to “sovereign-ready digital infrastructure, trusted governance,” and building up skills for “responsible industrial AI adoption.” 3
Jitters linger across the AI space. Microsoft’s AI boss Mustafa Suleyman, in a chat with the Financial Times, predicted that “fully automated” white-collar work is just 12 to 18 months away. That’s stoked fresh argument over the speed and scope of AI’s shake-up. 4
Jitters pushed the Nasdaq down nearly 2% Thursday, with the S&P 500 shedding over 1% as investors bailed on tech and transport names. Cisco’s warning on margins didn’t help sentiment. GuideStone Funds’ Jack Herr labeled 2026 a “prove it” year for AI returns. 5
Microsoft shares remain far below their recent peak. The 52-week range spans from about $344.79 up to $555.45, which leaves the stock trading roughly 27% beneath its highest point. 6
The rebound, though, only goes so far. Aramco’s MoU isn’t binding, and investors keep questioning Big Tech: can the surge in AI infrastructure outlays actually deliver lasting cloud gains and margins? That skepticism could deepen if rates turn higher on another inflation jolt.
Microsoft’s $0.91 quarterly dividend heads for its ex-dividend date on Feb. 19, with shareholders slated for payment on March 12, the company said. 7
