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Satya Nadella has made Microsoft 10 times more valuable in his decade as CEO. Can he stay ahead in the AI age?

Something has caught Satya Nadella’s attention. It’s a small thing—just a five-letter word inside a box, lurking in the corner of a complicated PowerPoint slide, flashed on a screen for a fraction of a second inside a convention hall in Kuala Lumpur, Malaysia. But it niggles. “You’re doing also Llama? You’re using both?” Nadella asks, a note of surprise in his voice. Llama is the AI model, not the animal. It is a piece of open-source software created by Meta, the social media giant that has pivo...

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