Microsoft notches record high valuation of nearly $2.6 trillion

June 16, 2023

Microsoft’s share price reached a new record high on Thursday due to market optimism about the prospects of artificial intelligence (AI). The tech giant’s market capitalization now stands at $2.59tn, and it is seen as an AI leader in the software industry due to significant investment in OpenAI. This includes rolling out AI upgrades, such as ChatGPT to Azure cloud services and the search engine Bing, as it seeks to compete with Google. JPMorgan analysts have raised Microsoft’s stock price target citing high demand for its products.

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