Microsoft operates Azure and became the second U.S. company to exceed a $3 trillion market capitalization.
Microsoft passed the $3 trillion valuation during intraday trading on January 24, 2024. Apple had reached that level earlier, so Microsoft became the second U.S. company to cross the landmark. The rise reflected investor confidence in Microsoft’s cloud business, enterprise software, and artificial-intelligence strategy.
Azure is Microsoft’s cloud-computing platform and competes with Amazon Web Services and Google Cloud. Microsoft also owns major businesses including Windows, Office, LinkedIn, Xbox, and GitHub.
Market capitalization is separate from annual revenue and accounting book value. It can rise when investors expect future growth, even before that growth appears in reported earnings. Microsoft’s valuation has also been influenced by its investment and partnership with OpenAI, although Microsoft and OpenAI remain separate companies.