Microsoft Exec: AI Agents Boost Software Demand Despite Shares Dipping to $419

Microsoft executive Rajesh Jha counters AI fears, arguing agentic AIs will require per-seat software licenses like humans, expanding demand for vendors like Microsoft. Shares have fallen ~13% YTD to ~$418.94 (down 0.9% intraday), with valuation compressed to 26x trailing earnings from nearly 40x last year amid broader sector weakness—the iShares Expanded Tech-Software ETF down ~20% YTD. Multiple reports frame this as market overreaction, positioning Microsoft as a prime buying opportunity with renewed AI-driven revenue optimism.