Microsoft And Xiaomi Will Collaborate On Cloud And AI – CWEB.com

Microsoft (NASDAQ:MSFT) and Xiaomi (Private:XI) have signed a “memorandum of understanding” which signals their commitment to cooperate, moving forward, in the areas of cloud computing, AI and other software and services.

Xiaomi Senior Vice President Wang Xiang tweeted about the extension of the companies’ partnership on February 23.

Today’s deal isn’t the first agreement between Microsoft and Xiaomi. In 2016, Xiaomi bought and licensed 1,500 patents from Microsoft. The patents included in the agreement included wireless communications patents including video.

According to Wang Xiang, Xiaomi’s Global Senior Vice President and Head of International Business,  “By collaborating with Microsoft on multiple technology areas, Xiaomi will accelerate our pace to bring more exciting products and services to our users. At the same time, this partnership would allow Microsoft to reach more users around the world who are using Xiaomi products.”

Microsoft will gain presence in the mobile market after the abandonment of Windows Mobile and perhaps a wider acceptance of its Cortana voice assistant.

Microsoft shares are up 1.8% to $93.36.

CWEB Analyst’s have initiated a Buy Rating for  Microsoft (NASDAQ:MSFT  )  and a Price Target of $150 within 12 months.

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