Keep up with the ever-evolving AI landscape
Unlock exclusive AI content by subscribing to our newsletter!!
January 25, 2024
Microsoft just became the second most valuable company in the world, with its stock closing above the $3 trillion market value threshold today - for the first time ever.
Shares closed at $404.87, up 0.6% from the prior day when it first crossed the rarefied valuation but ended the day below it. Microsoft is second in value only to Apple, the first company to get the honors last June.
Microsoft is widely seen as a frontrunner in generative AI due to its $13 billion investment in and exclusive Azure cloud partnership with OpenAI, the maker of ChatGPT.
Other AI leaders in the rarefied trillion-dollar club are the following:
Google is a prominent AI leader and its market cap is just shy of $2 trillion as of today's close.
Meta is a gearing up to be the AI leader in open source models. The social media giant’s focus on AI is a boon; its market cap is just over $1 trillion. Meta was initially in the trillion-dollar club in 2021 but lost its footing.
Amazon is the cloud leader and is investing $4 billion in AI startup Anthropic, arguably OpenAI’s chief rival. The company is worth $1.6 trillion as of today's market close.
While Apple has been largely on the sidelines in the generative AI race, it reportedly has been buying up companies and hiring AI staff to make a big play in generative AI.
Tesla, which its founder Elon Musk argues is an AI company and not just an automaker, was in the trillion-dollar club in 2021. But rising competition, recalls and other woes put a dent in market value. As of today, the company is valued at $572 billion.
Read more about:ChatGPT / Generative AI
You May Also Like
Generative AI Journeys with CDW UK's Chief TechnologistFeb 28, 2024
Qantm AI CEO on AI Strategy, Governance and Avoiding PitfallsFeb 14, 2024
Deloitte AI Institute Head: 5 Steps to Prepare Enterprises for an AI FutureJan 31, 2024
Athenahealth's Data Science Architect on Benefits of AI in Health CareJan 19, 2024