"Operation Overload is very likely to ramp up its activities," said the Recorded Future report.
Recorded Future said many of the Russian efforts, of late, have sought to provoke anger toward the LGBTQ+ community "using disinformation to perpetuate discriminatory beliefs around transgender individuals, perceived behavioural issues, gender transition and reassignment surgeries, and pharmaceutical treatments."
Other influence operations, the report said, are making use of AI-generated voiceovers to emulate the style of U.S. broadcast journalists.
Microsoft said the Russian cyber actors also have found ways to reach additional U.S. voters by shifting much of the content from the Telegram social media platform to X.
"Storm-1679 videos posted to X received higher levels of engagement," Microsoft said.
Microsoft researchers also warned there are signs Iran is also ramping up its election interference efforts.
The Microsoft report says that in one instance, less than two weeks ago, "an online persona operated by Iran began falsely posing as an American and called on Americans to boycott the elections due to both candidates' support for Israel's military operations."
Russia and Iran, like China, have repeatedly denied any involvement in efforts to meddle with the U.S. election.
But the new findings from Microsoft and Recorded Future align with assessments from U.S. intelligence officials.
"Foreign actors - particularly Russia, Iran and China - remain intent on fanning divisive narratives to divide Americans and undermine Americans' confidence in the U.S. democratic system consistent with what they perceive to be in their interests," according to a declassified assessment issued Tuesday by the Office of the Director of National Intelligence.
U.S. intelligence officials have previously said Russia has been working to boost the chances of former president and current Republican nominee Donald Trump, while Iran has been working to hurt Trump's reelection bid and instead buoy the campaign of Vice President Kamala Harris, the Democratic presidential nominee.
And while there is little evidence to suggest China has sought to affect the U.S. presidential race, intelligence officials have said Beijing has been focusing its efforts on congressional and state and local candidates perceived to be promoting policies detrimental to Beijing's interests.