Microsoft’s market value is around ($745 billion) Thursday morning, and it is in a tight battle with Google parent company Alphabet ($747 billion) and Amazon ($739 billion) for the title of the world’s second largest company by that measure, another sign of the Redmond, Wash. company’s return to the tech elite.
CEO Satya Nadella has rebuilt Microsoft’s status as a tech powerhouse on the back of a cloud-first strategy, a recent emphasis on artificial intelligence and downplaying Windows as the be-all-end-all of company success.
The companies all trail Apple ($902 billion) in market value, according to Nasdaq. Amazon took the mantle of second most valuable U.S. company earlier this year, but its value has fallen following attacks from President Trump about its contracts with the U.S. Postal Service and sales tax collection.
In 2016, Microsoft established the AI and Research Group, at the time the fourth engineering division inside the company. The group grew from 5,000 people to 8,000 in its first year. Last month, Microsoft reshuffled its engineering divisions to focus even more AI and cloud computing.
Several analysts think the positive momentum will continue for Microsoft, predicting the company will reach a $1 trillion market value before its tech rivals.Source