Despite Microsoft being edged out in market cap, it is expected to benefit from Apple's AI ambitions. Apple announced it would include OpenAI's large-language models as a feature for its users, with more models to be added over time. Microsoft, a significant investor in OpenAI, has seen recent growth in its Azure cloud services due to the widespread adoption of OpenAI's models.
Key takeaways:
- Apple has surpassed Microsoft to become the most valuable company in the world, with a market cap of $3.3 trillion.
- The company's shares surged after it announced plans to integrate artificial intelligence across its devices during its developers conference.
- Apple's new AI features, called Apple Intelligence, are expected to drive users to buy new iPhones, according to analysts from Morgan Stanley, Evercore and Bank of America.
- Microsoft is also likely to benefit from Apple's AI ambitions as the iPhone maker will include OpenAI's large-language models, in which Microsoft is one of the largest investors.