On Wednesday, Microsoft joined Apple as a three trillion-dollar firm, as its enormous bet on artificial intelligence continued to impress Wall Street.
Microsoft’s shares rose 1.31 percent to $404, making it the world’s second-largest company by market capitalization after Apple.
Apple continues in top place with $3.02 trillion, having crossed the $3 trillion market capitalization threshold for the first time in January 2022.
However, it has fallen short of the milestone, briefly losing its status as the largest firm on the market when Microsoft overtook the iPhone maker earlier this month.
More than any other tech behemoth, Microsoft is capitalizing on the hype surrounding AI.
The group based in Redmond, Washington, has a $13 billion relationship with OpenAI, the originator of ChatGPT.
Since the introduction of ChatGPT, Microsoft has released various products that allow businesses and individuals to leverage the potential of generative AI, most notably its Bing search engine and Copilot virtual assistant.
Since the launch of ChatGPT in early November 2022, Microsoft shares have increased by roughly 67 percent, while Apple shares have increased by about 40 percent.
Microsoft publishes its results on January 30.