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Sony Corporation (NYSE: SNE) and Microsoft Corp. (NASDAQ: MSFT) announced Thursday afternoon their partnership on mainstream entertainment platforms and artificial intelligence products.
What you need to know
This strategic partnership will explore the joint development of future cloud solutions in Microsoft Azure to support their respective game play and content delivery services.
"Sony has always been a leader in entertainment and technology, and the collaboration we announced today builds on this history of innovation," said Satya Nadella, CEO of Microsoft. "Our partnership brings the power of Azure and Azure AI to Sony to provide customers with new gaming and entertainment experiences."
The companies will also explore collaboration in the semiconductor and AI sectors, according to the press release. For semiconductors, this includes the potential joint development of new intelligent image sensor solutions.
Why is it important
Sony's PlayStation and Microsoft's Xbox are direct competitors in the video game console market.
Sony shares are trading up 4% to 51.89 USD Thursday afternoon. Microsoft shares were trading at $ 128.89.
Video game publishers Activision Blizzard (NASDAQ: ATVI) and Electronic Arts (NASDAQ: EA) fell slightly immediately after the announcement, but reduced its initial losses.
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Kenichiro Yoshida, President and CEO of Sony (left), and Satya Nadella, CEO of Microsoft. Courtesy photo.
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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