(New York) The market capitalization of Microsoft briefly exceeded $3,000 billion on the New York Stock Exchange on Wednesday, the IT group closely following its competitor Apple, the largest capitalization on the stock market.
Around 1:40 p.m. (Eastern time) in session, Microsoft’s stock climbed 1.31% to $404, increasing the software giant’s capitalization to $3,009 billion.
At the close, the stock having only increased by 0.92% to $402.56, the group’s capitalization fell back below the $3,000 billion mark.
Apple (-0.35% to $194.50) was not dethroned from first place, even if this leading role was snatched from it two weeks ago when Microsoft briefly overtook the iPhone manufacturer. Apple’s capitalization stood at 3,007 billion on Wednesday at the end of the session.
Microsoft and many technology groups are riding the enthusiasm generated by the deployment of artificial intelligence (AI).
The Redmond (Washington State) group is in partnership with OpenAI, creator of ChatGPT, of which it controls almost half of the capital.
Since the arrival of ChatGPT, Microsoft has launched several products allowing businesses and individuals to use the capabilities of generative AI, notably via its Bing search engine or the Copilot virtual assistant.
Since the launch of the so-called generative AI interface ChatGPT at the end of November 2022, Microsoft shares have gained nearly 70%. At the same time, the Apple firm had to settle for an increase of slightly less than 40%.
Microsoft releases its results on January 30.
In January 2022, Apple reached, for the first time, the 3 trillion mark in market capitalization.