A leader in the adoption of AI technology, Microsoft has had a sharp rise in its share prices, increasing more than $100 over the last 6 months
American technology giant ‘Microsoft’ has just risen to a record high valuation of almost $2.6 trillion as investors continue to bet on the company and its prospects in the quickly rising artificial intelligence (AI) industry.
Reaching a market valuation of $2.59 trillion, Microsoft is seen as a leader in the adoption of AI technology, courtesy of its $10 billion deal with ChatGPT creators ‘OpenAI’.
OpenAI, which for a long time has been backed by Microsoft, is now helping Microsoft integrate artificial intelligence into its products, giving the tech giant a competitive edge over other competitors who have to create and perfect their own AI models or products before launching them into the open market.
Right after its partnership with OpenAI, Microsoft went on to enable ChatGPT and then GPT4 on its Bing browser, which in turn revolutionized search since users no longer had to open web pages or websites to retrieve information. Microsoft did not just stop there, the company has now added AI upgrades into Azure cloud services and will definitely add them into a ton of more products with time.
Starting the day with stock prices below $340, Microsoft share prices spiked 3.2% and reached a record $348.10 per share upon closing; a previous record high was $343.11 on Nov. 19, 2021.
It was not just a lucky day for Microsoft since Apple also achieved its record high close, reaching $186.01 on Thursday. Nvidia, which is also amongst the list of major companies benefiting from the AI boom, also set an intraday record of $432.89.
Share prices, today.
Apple: +8.4%
Tesla: +6.7%
Microsoft:+7.7%
Amazon: +11.9%
Meta: +10.2%
Visa: +6%
JPMorgan: +4%
Intel: +8.2%— The Spectator Index (@spectatorindex) November 10, 2022
Do you think the tech industry has entered a growth stage powered by AI, after noticing a downturn post pandemic, or is this growth a bubble that’s waiting to burst? Let us know in the comments down below!
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