Microsoft became the first company to surpass a $3 trillion market capitalization during 2024.
Microsoft crossed the threshold in January 2024 as investors responded to strong demand for its cloud-computing business and its growing involvement in generative artificial intelligence. Azure, Microsoft 365, Windows, gaming, and enterprise software all contribute to the company's broad revenue base.
Microsoft's partnership with OpenAI and its integration of AI features into products such as Azure and Microsoft 365 helped make artificial intelligence a major part of its investment story. The company had already transformed from a personal-computer software leader into a large cloud and services provider.
A market cap above $3 trillion is not a permanent ranking. Share prices change every trading day, and companies can move above or below one another without any change in the number of employees or physical assets. Microsoft had previously become the second U.S. company to exceed $2 trillion, after Apple.