Microsoft has laid off over 15,000 employees this year, but CEO Satya Nadella says headcount "is relatively unchanged" as the company continues to hire new workers.
The fresh capital will be deployed to onboard more banks, expand fintech partnerships, and broaden Spense's product and technology stack, enabling new financial use cases beyond secured credit cards.
Microsoft stock has bounced sharply off its 52-week low set in April; a shift in capex spending along with the company's productivity gains from AI are bullish