Unfortunately, "building utilities" is something the stonk markets really do not like.

Pension funds and insurances? Sure, they love stable stock that predictably pays dividends and doesn't move around much. They have giant amounts of money they need to keep safe and utilities have a captive client base with low risks, while also having a predictable expenses schedule, and price increases of suppliers can trivially be passed downstream to the consumers. That's true for classic utilities - power, gas, phone, internet - and for "software utilities", stuff like SAP or, at least in the past, IBM.

But the general stock markets? They have been driven rabid by unicorns making return rates that are completely unreasonable. Everyone is just chasing the next hype. One day it's crypto, one day it's NFTs, one day it's cloud computing, next day it's AI. And Microsoft decided during the cloud computing heydays to finally enter that fray... and that was when shit went down hard.