Market Cap: Shares of the giant tech company Microsoft are on a tremendous rise these days. The company is getting huge profits from the steps taken earlier in Artificial Intelligence (AI). Due to this increase in the company’s shares, Microsoft has touched such a figure, which no other company could reach. Microsoft’s market cap reached $3.125 trillion at the end of the week.
Took a clear lead over Apple
According to a report by Barron’s, due to this surge in shares, Microsoft has taken a clear lead over Apple. On Friday, the market cap of Apple had become 2.916 trillion dollars. The previous record of highest market cap was in the name of iPhone maker Apple. Apple had made a market cap of $ 3.09 trillion in July. According to Barron’s, Microsoft has become the first American company to touch the $3.1 trillion market cap mark. Microsoft shares closed at $420.55 on Friday.
Benefiting from open AI
Both companies are benefiting greatly from Microsoft’s partnership with Open AI in the AI sector. Chat GPT created by OpenAI has become popular all over the world. Enthusiasm has arisen among people for the use of AI. This is the reason why most investors are investing money in Microsoft stock. Microsoft’s stock has jumped nearly 60 percent in the last 12 months.
Satya Nadella showed new direction to the company
Microsoft CEO Satya Nadella recently said that now we have moved beyond talking about AI and have come into the process of using it. We are getting new customers. The company is getting new benefits from this. Satya Nadella recently completed his 10th year as CEO of Microsoft. He has shown a new direction to software company Microsoft by focusing on cloud computing and artificial intelligence. Nadella took command of the company in 2014.
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