As the second company in the world, Microsoft joins Apple in the club of companies with a market value of three trillion dollars. This is a result of their significant investment and commitment to artificial intelligence that continues to impress Wall Street. With a share price of $404 and growth of 1.31%, Microsoft is now the world's second largest company by market capitalization, surpassed only by Apple, which reached this milestone in January 2022.
Microsoft's partnership with OpenAI is of great importance to their success in the AI world. Microsoft has recently experienced a significant upswing in the stock market. The company has seen a 67% growth in its shares since the launch of ChatGPT in November 2022. This has been largely driven by the company's focus on artificial intelligence (AI) and its partnership with OpenAI.
The deal between the two companies is reported to be worth around $13 billion. Microsoft has been able to leverage this partnership to launch several products that enable businesses and individuals to harness the capabilities of generative AI. These products include, among others, their Bing search engine and their Copilot virtual assistant. Microsoft believes that the inclusion of AI in Windows and Office will be a 'game changer'.
Meanwhile, Apple, despite being quiet about its progress in AI, has seen its shares rise by around 40%. Although Apple reached a market value of three trillion dollars before Microsoft, the company has since experienced a decline that even briefly caused Microsoft to overtake them as the largest company in the markets.
Microsoft plans to announce its results on January 30. There is excitement about how Apple's Mac computers will fare in this AI wave, and whether they will be axed if they fail to keep pace.