Microsoft Corp hugely benefits from its early investment in artificial intelligence (AI). It is a pioneering example of how a software giant has become one of the most significant tech companies to be reckoned with, as it reached a valuation of $3 trillion on Wednesday. Apple is the only other company to have achieved this value last summer. On Wednesday, Microsoft stock rose by over 1.3 percent, giving the tech giant a market capitalization of $3 trillion.
OrganicGreek.com
As reported earlier, Microsoft beat Apple to become the most valuable company in the world earlier this month, though Apple reclaimed its top spot on Wednesday. Microsoft has reached a value of $3 trillion, similar to Apple. By investing in AI, Microsoft has been a pioneer and remains the leader in the race for dominance in artificial intelligence.
Microsoft has had a bullish year with a 7 percent increase in stock value. It is expected to deliver strong results in its second quarter reporting partly due to its dominance in generative AI. Microsoft is expected to gain as it is in a leadership role as AI spreads across industries.
Although Google, Meta, and other companies are also scaling up their generative AI operations, they are still behind, and there is still a limited supply of chips when considering the demand for them to train large systems.
Microsoft has also strengthened its Azure cloud business, which has been profitable for the software giant as it competes closely with Apple’s top position.
Fiscal second-quarter earnings are expected to be reported by Microsoft on January 30. According to a Wednesday note, analysts raised estimates, and the stock is classified as a buy.
Although Apple has been the top company in the U.S. and the world, mainly due to its flagship iPhone, sales are declining, and markets are narrowing. Microsoft, however, is growing as the demand for generative AI grows. Apple might need a new product to sustain its top position.
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