Powered by its artificial intelligence assets, Microsoft has leapfrogged Apple to become the most valuable public company. According to Bloomberg, Microsoft’s market value finished the week at $2.88 trillion, compared with Apple’s $2.86 trillion.
Over the past year, Microsoft has added about $1 trillion in value, as fascination with generative AI (a major point of contention in Hollywood’s dual strikes) increased.
Shares in Microsoft finished Friday’s trading at $388.47, up 1% and near an all-time high. Apple’s stock has also been within range of record territory, though it closed the day up only a fraction at $185.92.
OpenAI, the maker of ChatGPT, is partly owned by Microsoft. The tech giant invested $10 billion in it last year, making a claim on a large chunk of the profits made by its for-profit arm.
Read more on deadline.com
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