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Microsoft, the second company to reach a market value of $3 trillion

2024-01-26 11:01:23Lifestyle SHKRUAR NGA REDAKSIA VOX

Microsoft, the second company to reach a market value of $3 trillion

Software giant Microsoft has surpassed a $3 trillion (2.7 trillion euro) stock market valuation, becoming only the second company, after Apple, to ever achieve this feat.

The achievement follows the company's decision to focus on incorporating artificial intelligence (AI) into its products, which has boosted investor confidence. Microsoft shares rose more than 1.45% on Wednesday in New York.

Last year, Microsoft, known as one of the "big seven" technology companies driving the growth of US stock indexes, invested $10 billion (€9.2 billion) in various AI initiatives. This positioned Microsoft at the forefront of AI, surpassing newer competitors such as Google and Meta.

Addressing the opportunities presented by AI, Microsoft Vice Chairman and President Brad Smith stated at a conference in Brussels last June that these opportunities could extend from healthcare to education.

“Pancreatic cancer remains one of the most life-threatening cancers for people who get it almost entirely because it is so difficult to catch in its earliest stages. But here we're finding that AI can detect patterns that a human doctor has a hard time detecting,” Smith said.

“It's not just better health care, it can be better education. […] I think it's very easy in the European Union or the United States or other countries to take for granted that we have easy access to doctors and teachers, and it's easy to forget that most of the world doesn't . It will reach people in ways we can't.”

Among its investments in AI-related innovations, Microsoft has incorporated an AI digital assistant called Copilot into its Edge web browser and Office software.

In addition, Microsoft recently announced a 10-year partnership with UK telco Vodafone to help Vodafone deliver artificial intelligence (AI), digital, enterprise and cloud generative services to over 300 million businesses and consumers in Europe and Africa.

As the second-largest cloud computing provider, Microsoft has also advanced its efforts by developing its own AI-enabled chips, intensifying its competition with Amazon and Google to manage AI tools for companies.

Apple, one of Microsoft's main competitors, reached the same $3 trillion milestone in June last year.

Since January, Microsoft shares have been in competition with Apple for the title of the world's most valuable company, briefly surpassing the iPhone maker earlier this month. Later this month, Microsoft is expected to release its financial results for the second quarter of fiscal year 2024.


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