Microsoft director John Stanton bought about $2 million worth of stock on Feb 18. He picked up 5,000 shares at an average price of $397. The stock has been down roughly 30% from its highs in July. Aside from the insider activity, the article points out Microsoft is hedged through its stakes in OpenAI and Anthropic. Both companies have committed to spending billions on Azure cloud. Microsoft is also developing its own AI models and chips, which could help protect margins compared to relying entirely on partners.