Microsoft Probed In U.S. Antitrust Investigation
Date
11/28/2024 3:14:02 PM
(MENAFN- Baystreet)
The U.S. federal Trade Commission (FTC) has opened an antitrust investigation into Microsoft (MSFT) that is looking into the company's cloud computing business and artificial intelligence (A.I.) products.
The investigation into potentially anticompetitive practices is also examining the company's software licensing business and its cybersecurity offerings.
The government agency has reportedly asked Microsoft to turnover information related to its business practices. The investigation has been approved by current FTC Chair Lina Khan.
Microsoft is not the only U.S. technology company to be targeted by the FTC.
The agency has gone after other high-profile tech companies in recent years, notably Alphabet (GOOGL) over its dominant online search engine Google.
This is also not the first time Microsoft has been targeted in an antitrust case. The company was the subject of an antitrust case in the late 1990s concerning its Windows operating system.
This time, the FTC is investigating Microsoft after a string of cybersecurity incidents involving the company's products.
Microsoft is a top government contractor, providing software and cloud services to numerous U.S. agencies, including the Defense Department.
The stock of Microsoft has risen 14% so far this year and currently trades at $422.99 U.S. per share.
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