Microsoft Corp (MSFT.O) shares rose to a new record high close on Thursday as market optimism about the prospects of artificial intelligence (AI) has helped buoy the technology giant to a record market capitalization of $2.59 trillion.
Microsoft is seen as a leader in the adoption of AI technology in the software industry owing to its huge investment in OpenAI, the San Francisco-based startup that owns the widely popular chatbot ChatGPT.
Last month, Microsoft began rolling out a host of AI upgrades, including ChatGPT, to Azure cloud services as well as its search engine Bing – in a move that seeks to challenge the dominance of Alphabet Inc’s (GOOGL.O) Google.
Microsoft’s shares closed up 3.2% at $348.10 per share on Thursday. The stock, which has gained more than 45% in the year to date, reached its prior record close of $343.11 on Nov. 19, 2021. The stock’s intraday record high was $349.67 on Nov. 22, 2021.
In addition, Apple Inc (AAPL.O) shares also achieved a record high close of $186.01 on Thursday, while shares of graphics chipmaker Nvidia (NVDA.O) set a fresh intraday record of $432.89.
Last month, Microsoft began rolling out a host of AI upgrades, including ChatGPT, to Azure cloud services as well as its search engine Bing – in a move that seeks to challenge the dominance of Alphabet Inc’s (GOOGL.O) Google.
Microsoft’s shares closed up 3.2% at $348.10 per share on Thursday. The stock, which has gained more than 45% in the year to date, reached its prior record close of $343.11 on Nov. 19, 2021. The stock’s intraday record high was $349.67 on Nov. 22, 2021.
In addition, Apple Inc (AAPL.O) shares also achieved a record high close of $186.01 on Thursday, while shares of graphics chipmaker Nvidia (NVDA.O) set a fresh intraday record of $432.89.