Microsoft Shares Sink After TCI Cuts $8 Billion Stake

The hedge fund TCI cut almost all of its $8 billion stake in Microsoft, the Financial Times reported Friday, due to what CEO Christopher Hohn described in an investor letter as “uncertainty over Microsoft’s competitive position in the future” as AI threatens to replace existing software like Office.

TCI, which reduced its position in Microsoft from 10% to 1%, also noted “risks” facing