Copilot is the new UI for AI,” said Microsoft corporate vice president of AI at Work Jared Spataro at the reveal of Microsoft 365 Copilot Phase 2.

Some of the updates include an AI-assisted collaborative canvas which allows multiple users to interact, edit and make changes at the same time. In a blog post, Jared Spataro, corporate vice president of AI at work at Microsoft, called it "an entirely new work pattern -- multiplayer, human-to-AI-to-human collaboration."

Microsoft's share repurchase program, which has no expiration date, replaces its previous $60 billion authorization announced four years ago. Meanwhile, investors also cheered the news that shareholders of record as of Nov. 21 will receive a quarterly dividend of 83 cents per share, up from the current 75 cents a share.

The tech giant declared a quarterly dividend of $0.83 per share, reflecting an 8 cent, or 10%, increase over the previous quarter. In July, the company said it will spend more this fiscal year on AI infrastructure. It reported a 77.6% rise in capital spending in the quarter ended June 30, largely due to AI-related expenses.

Microsoft will raise its quarterly payout by about 11% and begin a new stock-buyback program.

Key Takeaways U.S. equities were higher at midday as August retail sales were higher than anticipated and the Fed began a two-day meeting expected to produce interest-rate cuts. ,Intel said it was spinning off its contract chipmaking business and signed an agreement to make semiconductors for Amazon's Amazon Web Services.