Markets

Microsoft hits $3 trillion valuation as AI fervour fuels advance

Much of the gain in tech giant stock reflects investor enthusiasm over AI and its potential to accelerate growth in both earnings and revenue

Demand for AI services, along with cloud computing to support it, is projected to support Microsoft’s long-term growth trends. Picture: Getty

Microsoft achieved a historic $3 trillion market valuation on Wednesday, in the latest example of how optimism over artificial intelligence has fuelled a seemingly unstoppable advance in the software giant.

The stock rose as much as 1.3 per cent to $403.95 (€370.54), resulting in a market capitalization of $3 trillion. The threshold cements Microsoft’s status as one of the largest public stocks. It briefly surpassed Apple in value — which last year became the first ...