Investors’ interest in the company is growing against the background of the artificial intelligence boom.
According to The Verge, Microsoft became the second company after Apple to reach the $3 trillion mark after its shares rose 1.5% during trading on Wednesday.
Apple first recorded a record market capitalization of $3 trillion two years ago and has since reached this milestone several times. At the same time, Microsoft recently briefly overtook the iPhone maker in terms of value, claiming the title of the world’s most expensive company.
Microsoft shares have seen gains in recent months as the company continues to introduce artificial intelligence into its products, announcing updates almost every week. The corporation also invested $10 billion in OpenAI, a startup that created the now popular AI chatbot ChatGPT.
For comparison: in 2019, Microsoft shares started with a price of $107 per “piece”, while the current value reaches $404.
Demand for AI services, along with cloud computing to support them, is expected to drive Microsoft’s long-term growth trends. Bloomberg Intelligence estimates that the industry’s revenue will grow 15% in fiscal 2024, faster than growth in the technology sector as a whole.
