Microsoft joined Apple as a three-trillion-dollar company on Wednesday, as its big bet on artificial intelligence continues to sway Wall Street.
Now the world’s second-largest company by market capitalization, Microsoft’s shares rose 1.31 percent to $404.
Apple ranks first at $3.02 trillion after reaching the $3 trillion market capitalization mark for the first time in January 2022.
But it has fallen short of the milestone, even briefly losing its pole position as the largest company in the market when Microsoft briefly overtook the iPhone maker earlier this month.
Microsoft is riding the wave of excitement over AI more than any other tech giant.
The Redmond, Washington-based group has a major stake in OpenAI, creator of ChatGPT, which is valued at $13 billion.
Since the arrival of ChatGPT, Microsoft has launched several products that enable companies and individuals to harness the power of generative AI, notably through its Bing search engine and Copilot virtual assistant.
Since ChatGPT launched in early November 2022, Microsoft’s shares have risen by about 67 percent, while Apple’s has risen by about 40 percent.
