ArcelorMittal SA (NYSE:MT) on Monday announced an expanded partnership with Microsoft Corp. (NASDAQ:MSFT) to accelerate its digital transformation and strengthen its data and artificial intelligence capabilities across its global operations.
Azure Becomes Primary Cloud Platform
The company will use Microsoft Azure as its primary cloud platform under its “Cloud First, Data Centric” strategy.
Azure will support the modernization of core IT systems, consolidation of company data and deployment of advanced analytics and AI across global business processes.
ArcelorMittal also plans to integrate Microsoft Fabric, Purview, Foundry and other Azure services.
Partnership Targets Efficiency And Resilience
The initiative is designed to accelerate AI-powered innovation, strengthen cybersecurity and system resilience, improve operational efficiency and reduce reliance on legacy IT systems.
“At ArcelorMittal, technology is central to how we compete, a driver of performance, innovation and lasting advantage,” ArcelorMittal Chief Information Officer Nik Puri said.
“Our expanded relationship with Microsoft is not simply about modernizing systems; it’s about fundamentally reshaping our IT operating model, embedding data and AI into the core of how we run our IT estate.”
ArcelorMittal Stock: Key Levels To Watch
With the stock near $72, the chart remains firmly bullish. Shares trade about 8% above the 20-day and 50-day SMAs, 16% above the 100-day SMA and 30% above the 200-day SMA.
The moving-average structure also supports the uptrend, with the 20-day SMA above the 50-day and the 50-day above the 200-day.
Momentum is strengthening as MACD remains above its signal line and the histogram stays positive, indicating buyers are regaining control despite the stock’s extended position.
- Key Resistance: $72.00, just below the 52-week high of $72.50, where an initial breakout could face selling pressure.
- Key Support: $64.00, a prior buyer-defense zone near the 20-day and 50-day moving averages.
Analyst Outlook
The stock carries a Buy rating with an average price forecast of $71.10. Recent analyst moves include:
- Wells Fargo: Equal-Weight (Raises forecast to $69.00) (July 31)
- JP Morgan: Upgraded to Neutral (July 10)
- Wells Fargo: Equal-Weight (Raises forecast to $62.00) (July 9)
MT Stock Rises In Premarket Trading
MT Price Action: ArcelorMittal shares were up 2.45% at $71.86 during premarket trading on Monday. The stock is trading near its 52-week high of $72.50, according to Benzinga Pro data.
Image via Shutterstock
Recent Comments