Excitement in the stock market: The American software company Microsoft is the second company after Apple to cross the three trillion dollar mark (2,751 billion euros) in terms of market value. Recent investments in AI technology also helped.
On Wednesday, competitor Apple was just ahead in the ranking of the most valuable companies with a market capitalization of $3.02 trillion. Thanks to its investments in the ChatGPT manufacturer Open AI, Microsoft is currently benefiting more than other technology companies from the boom in artificial intelligence.
A confrontation with Apple
Apple reached a market value of three trillion dollars for the first time in January 2022. However, the Cupertino company has since temporarily fallen below the bottom line again and even lost first place in the rankings: at the beginning of January, Microsoft briefly overtook the iPhone manufacturer.
Since ChatGPT launched in November 2022, Microsoft shares have risen 67 percent. The Redmond-based company has now integrated the chatbot into a range of its software products. Apple’s stock price rose 40 percent over the same period.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
