SAN FRANCISCO: Microsoft has reached the coveted $3 trillion mark and became the second company after Apple to achieve this feat.
Microsoft reached a $3 trillion market cap, the first time in its 48-year history.
The Satya Nadella-run company reached the milestone valuation after its stock climbed 1.5 per cent in trading on Nasdaq late on Wednesday.
Tim Cook-led Apple hit the $3 trillion market cap around two years ago.
Microsoft’s stock has been rallying in recent months, amid its artificial intelligence (AI) push along with OpenAI.
In the past five years, Microsoft’s stock price has moved from $107 to the current price of around $404.
Microsoft, under Nadella, has also acquired several AI companies and invested more than $10 billion into OpenAI, reports The Verge.
Nadella took charge of the company nearly 10 years ago, and acquired Minecraft developer Mojang, LinkedIn, GitHub, and Xamarin.
Earlier this month, Microsoft surpassed Apple’s market cap to become the world’s most valuable public company for a brief period.
Now, it has finally crossed the $3 trillion mark and stayed there.
The company’s stock saw a big bump after it announced a steep price on Copilot for Microsoft 365, its AI-powered Office documents.
Since then, the company has been announcing new AI features every now and then.