Microsoft (Microsoft (MSFT)) is having an interesting Thursday. Shares jumped 1.7% in premarket trading to $427.40 after reports surfaced that Anthropic — the AI company backed by Amazon (Amazon (AMZN)) — is in talks to use Microsoft's custom AI chips. Yes, you read that right: an Amazon-backed company might start using Microsoft's hardware. The AI world is weird.

According to a report from The Information, Anthropic is exploring the use of Microsoft's Maia 200 AI chips as it expands its computing infrastructure. Microsoft has been pitching these chips as a lower-cost alternative to NVIDIA (NVIDIA (NVDA)) processors for certain inference workloads, as noted by analyst Hardik Shah on X. This is part of Microsoft's broader push to make its in-house AI hardware a serious contender in the rapidly growing AI infrastructure market.

But the chip talks aren't happening in a vacuum. Anthropic has also been increasing its use of Microsoft's Azure cloud services, renting more servers to handle its AI workloads. That's a notable development given that Amazon Web Services (AWS) is both a cloud rival to Azure and a major investor in Anthropic. It seems Anthropic is playing the field, and Microsoft is happy to court them.

Microsoft's AI Strategy: Beyond OpenAI

Microsoft has already integrated Anthropic's Claude AI models into Office 365 applications — Word, Excel, Outlook, and PowerPoint. Developers have reportedly found that Claude outperforms OpenAI's technology in certain tasks, like Excel financial functions and PowerPoint slide generation. So Microsoft is now offering both OpenAI and Anthropic models across its productivity software, while also building its own internal AI systems. And here's the kicker: Microsoft is reportedly paying Amazon Web Services to access Anthropic's models, even though AWS is a cloud competitor and a major Anthropic backer. It's complicated.

This move marks a significant shift for Microsoft, which has invested over $13 billion in OpenAI and remains its largest financial backer. But recent reports have highlighted tensions between the two companies over future access to and control of AI. By bringing Anthropic into the fold, Microsoft is hedging its bets and signaling that it's not putting all its eggs in the OpenAI basket.

Cramer Weighs In

Jim Cramer, the ever-opinionated host of Mad Money, called Microsoft's decision to pay Amazon-backed Anthropic for AI technology "big." On X, he wrote that Microsoft paying Anthropic for products it believes are superior is a major strategic change after years of relying heavily on OpenAI. It's a sign that the AI arms race is getting more complex, with alliances shifting and companies willing to work with rivals to get the best technology.

Technical Analysis: What the Charts Say

Let's look at the numbers. Microsoft's stock is trading above its short- and intermediate-term moving averages, which is a good sign. It's 2.6% above the 20-day SMA ($416.75) and 7% above the 50-day SMA ($399.82). It's also 2.5% above the 100-day SMA ($417.19), suggesting the spring rebound is still intact.

But the longer-term picture is more mixed. The stock is still 7.3% below the 200-day SMA ($461.48), and the 50-day remains below the 200-day after a death cross in January. That means rallies might work, but they could face tougher resistance as prices approach longer-term zones.

For momentum, the MACD is below its signal line, and the histogram is negative. That suggests upside pressure is cooling from the prior upswing. In plain English, the stock needs fresh buying to keep moving higher, or it could slip into a choppy consolidation.

Key levels to watch:

• Resistance: $428.00 — a nearby pivot and round number where rebounds could stall, especially with price pressing into it premarket.
• Support: $398.00 — aligned with the 50-day SMA, a floor where buyers have a clear reference if the move fades.

At the time of publication on Thursday, Microsoft shares were down 0.55% at $418.76. So the premarket pop didn't hold, but the story is far from over.