Microsoft owns the Azure cloud platform and became the second company to surpass a $3 trillion market capitalization in 2024.
Microsoft crossed the $3 trillion threshold in January 2024, following a period of strong investor enthusiasm about cloud computing and artificial intelligence. Its Azure platform, enterprise software, productivity products, and investment in OpenAI were central parts of the market narrative.
The company had already become one of the world's most valuable businesses through Windows, Office, and its enterprise technology operations. Its transition toward recurring cloud subscriptions helped make revenue more predictable than the older model of selling packaged software.
Microsoft is frequently confused with Amazon in cloud-computing questions. Amazon Web Services is the cloud division of Amazon, while Azure belongs to Microsoft. Both companies are major market-cap leaders, but they have different origins and product portfolios.