Microsoft became the second company to exceed a US$3 trillion market capitalization in January 2024.
Microsoft passed US$3 trillion during trading on January 24, 2024, briefly moving ahead of Apple in the market-cap rankings before falling back below that level later in the session. Apple had been the first company to reach the threshold.
Microsoft’s valuation was powered by its enterprise software franchises, cloud-computing business Azure, and investor enthusiasm about artificial intelligence. Microsoft’s multibillion-dollar partnership with OpenAI helped focus attention on its AI strategy and potential productivity applications.
Market-cap rankings are fluid because they respond to share prices, exchange rates, earnings expectations, and the number of shares outstanding. A company can therefore become the world’s most valuable for a short period without permanently holding the top position.