Report: Hedge fund TCI significantly reduces holdings in Microsoft due to concerns related to artificial intelligence.

According to a letter to investors reported by the Financial Times, Christopher Hohn's hedge fund TCI has significantly reduced its position in Microsoft from 10% of the investment portfolio at the end of last year to 1% by the end of March. Hohn stated in the letter: "We have reduced our investment in Microsoft due to the uncertainty brought by the rapid development of artificial intelligence on Microsoft's future competitive position." He expressed concerns about the outlook for Microsoft's Office software business and also identified some risks with Azure. The Financial Times reported that TCI increased its position in Alphabet from 3% of the investment portfolio to 5% during the quarter.