Business

Microsoft Sets New Record with Valuation Approaching $2.6 Trillion

On Thursday, Microsoft Corp witnessed a surge in its stock prices, reaching an unprecedented closing high. The market’s positive outlook on artificial intelligence (AI) prospects played a significant role in boosting the technology giant’s market capitalization to a remarkable $2.59 trillion.

Also Read: Government Set to Reap Record-Breaking Dividend of Rs 63,056 Crore from Listed PSUs in FY23

Renowned for its substantial investment in OpenAI, a prominent San Francisco-based startup known for ChatGPT, Microsoft is widely regarded as a frontrunner in integrating AI technology within the software industry.

Microsoft recently introduced a range of AI enhancements, including ChatGPT, to its Azure cloud services and Bing search engine. This strategic move aims to rival the dominant position of Google, owned by Alphabet Inc. On Thursday, Microsoft’s shares concluded with a 3.2% increase, closing at $348.10 per share. Notably, the stock has experienced significant growth, surging over 45% since the beginning of the year. It surpassed previous record highs, reaching $343.11 on November 19, 2021, and achieving an intraday peak of $349.67 on November 22, 2021.

Furthermore, on Thursday, Apple Inc witnessed a historic closing high with its shares reaching $186.01. Simultaneously, graphics chipmaker Nvidia achieved a new intraday record of $432.89.

Also Read: BSE Listed Companies Achieve Unprecedented Market Cap Milestone of Rs 291.89 Lakh Crore

Earlier on Thursday, JPMorgan analysts increased their price target for Microsoft’s stock, attributing it to the growing demand for the company’s products driven by artificial intelligence (AI). Taling about the data by Refinitiv, out of the 53 analysts covering Microsoft, 44 recommended buying the shares, with a median price target of $340.

In a note to clients, the JPMorgan analysts expressed their optimistic stance on generative AI, emphasizing its potential to boost confidence in essential software franchises.

Shruti Rag

Recent Posts

PM Modi Condemns Pahalgam Terror Attack; Vows Justice For Victims

PM Narendra Modi on Tuesday strongly condemned the terrorist attack in Pahalgam, Jammu and Kashmir,…

18 mins ago

PM Modi Directs Immediate Action After Pahalgam Terror Attack On Tourists

PM Narendra Modi on Tuesday directed Union Home Minister Amit Shah to take all necessary…

42 mins ago

Terror Attack On Tourists In Pahalgam; Home Minister Amit Shah Condemns Attack

Terrorists opened fire on a group of tourists in the Pahalgam area of South Kashmir’s…

1 hour ago

Adani Group Stages Bold Comeback With ‘Operation Zeppelin’ After Hindenburg Report

In January 2023, forensic financial firm Hindenburg Research released a damning report labeling the Adani…

2 hours ago

India’s Infrastructure Output Rises 3.8% In March 2025 On Strong Steel & Cement Growth

India’s infrastructure sector witnessed a year-on-year growth of 3.8% in March 2025, led by strong…

3 hours ago

India’s Oilmeal Exports Dip 11% In FY 2024–25 Despite March Uptick: SEA

The Solvent Extractors’ Association of India (SEA) has released provisional data for oilmeal exports, showing…

3 hours ago