This was my take as well. Nadella is looking increasingly desperate by the day to salvage this investment. First that Jevon paradox tweet after futures opened Sunday night now this clearly leaked story plus a tweet from Altman of them together lol. I actually recall him making a similar tweet last time futures tanked a few months ago though I don’t recall the context.

Pretty clear that this thing is quickly getting away from them. Even if the data was stolen it doesn’t make any difference. You have no moat if scraped data is your moat. The moat was supposedly their ingenious engineers.

I think a 180 is coming soon when Microsoft stops doubling down, takes their medicine and shifts their strategy to cut back on infrastructure spend. I think the risks are still enormous for the tech sector.