Is Microsoft the hidden ace in the AI race? Don't just focus on chips—software can make money too!

Lately, I've been paying more attention to Microsoft (MSFT). When people talk about AI, many think of Nvidia first, but I think Microsoft is also worth looking into.
Why? Chips provide computing power, while Microsoft has a large base of enterprise customers, a cloud computing platform, and an office software ecosystem. To make money from AI, companies need more than just hardware sales—they also need to find users who are willing to pay.
Products like Azure cloud services, Microsoft 365, and Copilot give Microsoft the opportunity to integrate AI capabilities into its existing businesses. If companies are willing to pay for greater efficiency, AI could gradually move from a technology concept to recurring revenue.
This is the core reason I'm bullish on Microsoft: it doesn't have to find customers from scratch; it already has a vast enterprise customer base.
Of course, the risks shouldn't be overlooked. Investment in AI infrastructure is enormous, and data center construction and operating costs are high. It will also take time to see whether products like Copilot can generate strong enough demand from paying customers.
What's more, competition among tech giants is getting fiercer, and Microsoft isn't the only AI player.
My investment approach is to watch cloud business growth, AI product subscription rates, and changes in profit margins. Rather than simply chasing the AI theme, I'd rather see real business revenue.
In the AI era, those who sell the shovels can make money, and those who use them to dig up gold may make money too.
Who do you think is more worth holding for the long term, Microsoft or Nvidia?$MU

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