As its massive wager on artificial intelligence continued to impress Wall Street, Microsoft became a $3 trillion company on Wednesday and joined Apple.
Current market standing:
In terms of market capitalization, Microsoft is now the second-largest company in the world, trailing Apple by 1.31 percent. Apple's stock rose 1.31 percent to $404. Despite being valued at $3.02 billion in January 2022, Apple hasn't lived up to its hype, and Microsoft has temporarily overtaken Apple for the top spot in the market.
Full steam ahead:
Leading the charge to capitalise on the hype surrounding artificial intelligence is Microsoft.
With OpenAI, the company behind ChatGPT, The Redmond, Washington-based company has a significant partnership that is reportedly valued at $13 billion. Following the release of ChatGPT, Microsoft has released a number of products that let businesses and consumers take advantage of generative AI capabilities. These products include the Bing search engine and the Copilot virtual assistant.
Following the early November 2022 launch of ChatGPT, Microsoft's stock has increased by approximately 67%, while Apple's has increased by roughly 40%.
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