Microsoft briefly became the world’s most valuable public company in January 2024.
Microsoft overtook Apple in market capitalization during January 2024 trading. Investors had been rewarding Microsoft for its cloud-computing business, enterprise software, and prominent position in generative artificial intelligence through its partnership with OpenAI and integration of AI features across its products.
The lead was not permanent: market-cap rankings can change whenever share prices move. Apple and Microsoft exchanged the top position at different points, and the comparison depends on whether a ranking uses intraday values or closing prices.
Microsoft was founded by Bill Gates and Paul Allen in 1975. Its transformation from a personal-computer software company into a major cloud and enterprise technology provider was central to its rise among the world’s most valuable companies.