NVIDIA became the first company to hit a $ 4 trillion in market value (and earlier this month), and now Microsoft is joining the AI chipmaker at the special $ 4 trillion club.
Microsoft told Better Earnings on Wednesday, the stocks can jump 8%, and increased the company’s market capitalization to about 4.1 trillion dollars. As at the time of writing, Microsoft maintains growth with market value $ 4.03 trillionOn Thursday morning with about 5% shares.
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Microsoft and partner AI giant meta added both Joint $ 440 billion In market value late Wednesday night, Meta with earnings A 9% increase In its market capitalization in hourly trading. The two companies on Wednesday exceeded the analyst’s expectations with strong financial results, showing that Big Tech AI AI is paying investment.
Microsoft Chief Financial Officer Amy Hood Told investors In an earning call on Wednesday that the company planned to spend Record $ 30 billion For the current quarter on AI expenses such as data centers, more than $ 24.23 billion Analysts expected.
Microsoft’s rally was due to the strength of its latest Earning report For the quarter ended June 30, which was revealed by Tech Veteran on Wednesday After the bellIn the report, Microsoft revealed a quarterly revenue of $ 76.4 billion up to 18% from the same period last year, marking the company’s fastest revenue growth in three years.
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Microsoft CEO Satya Nadella. Photo by Stephen Bresier/Getty Image
Analysts expected $ 74.62 billion In Azure Revenue, Microsoft’s report exceeded expectations.
Development was largely operated Microsoft’s ejure Cloud Computing Division, which provides computing power and storage for AI. Microsoft CEO Satya Nadella revealed the Azure Revenue for the first time in the report, given that Azure was “more than $ 75 billion in revenue, up to 34%, up to 34%, was inspired by development in all workloads.”
Nadella said in the report, “Cloud and AI have the motivational power of trade change in every industry and field.”
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