Microsoft cracks $3 trillion market cap as investors back AI push

Microsoft has become just the second company after Apple to reach a market cap valued at $3 trillion - $3.004 trillion to be exact. Apple remains the most valuable company in the world, with a market cap just slightly higher at $3.03 trillion. Microsoft’s shares reached a record high at $404.72 with shareholders reacting very positively to the company’s unyielding push to drive AI throughout its enterprise and consumer products.

Microsoft was an early backer of OpenAI with its support vindicated when OpenAI’s Large Language Learning Model (LLM) generative AI chatbot took the internet by storm in late 2022. Since then, Microsoft has accelerated its adoption of OpenAI’s technology by integrating it into its Edge browser, Bing Search, and across its suite of Microsoft 365 apps.

However, even though Microsoft has invested well over $10 billion into OpenAI, CEO Satya Nadella has made it clear that the company is diversifying its AI strategy and adopting a variety of AI models into its armory. This follows investor nervousness following the failed ousting of OpenAI boss Sam Altman last November. However, with Microsoft’s stock and market value reaching record levels, those jitters have appeared to subside.

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