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Microsoft's AI talk and topples Apple, making them the world’s biggest public company

Jan 16, 2024 - pocketgamer.biz
Microsoft has surpassed Apple to become the world's most valuable publicly traded company, following a 3% rise in its shares and a 3% fall in Apple's. This surge was triggered by Microsoft's reveal of its AI capabilities, particularly its Copilot tool, which led to a trading surge over Apple. Microsoft's market capitalization reached $2.89 trillion, while Apple's fell to $2.87 trillion, marking the first time in over a year that Apple has not been the most valuable public company.

Microsoft's return to the top is not solely due to its AI talks, but also due to significant changes in late 2023 that impacted the games industry. These changes include the development of a mobile storefront for Xbox, the end of Bobby Kotick's 32-year tenure as CEO, and the completion of the industry's largest acquisition, the $69 billion purchase of Activision Blizzard.

Key takeaways:

  • Microsoft's reveal of its AI capabilities led to a trading surge over Apple, making Microsoft the most valuable publicly traded company in the world.
  • Microsoft's market capital reached $2.89 trillion, surpassing Apple's $2.87 trillion.
  • This marks the first time in over a year that Apple hasn't been the most valuable public company.
  • Microsoft's return to the top is also attributed to revolutionary changes in late 2023, including the completion of the industry’s biggest acquisition: the $69 billion purchase of Activision Blizzard.
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