Microsoft, an American international corporation, has overtaken Apple as the second company to ever achieve a valuation of $3 trillion (€2.7 trillion). On Wednesday, Microsoft’s shares rose more than 1.45% in New York.
The accomplishment comes after the company began integrating artificial intelligence (AI) into its offerings, which has boosted investor confidence. Last year, Microsoft made significant investments in AI totaling $10 billion (€9.2 billion). As a result, the company surpassed its more recent rivals, Google and Meta, to take the lead in AI.
In addition to expanding its efforts to create its own AI-supporting chips, Microsoft—the second-biggest cloud computing provider—has been stepping up its competition with Amazon and Google to manage artificial intelligence tools for businesses.
Speaking about the prospects AI offers, Microsoft President and Vice Chair Brad Smith said in a June conference in Brussels that these possibilities may be found in both healthcare and education.
“By working directly with labor leaders, we can help ensure that AI serves the country’s workers,” said Smith.
“This groundbreaking partnership honors the rights of workers, learns from the advice of labor leaders as we develop technology, and helps us provide people with the skills that will become essential in a new AI era.”
According to Verge, Microsoft under Nadella has also recently bought a number of AI startups and contributed over $10 billion to OpenAI. With Copilot, Microsoft has made headway in its efforts to position AI at the forefront of its software and services. Next week, when the company releases its Q2 fiscal 2024 earnings report, we may learn more about the product’s financial performance.
