Microsoft touts AI strength, but shares dip as market digests costs
But Microsoft shares were down 1% after-hours as investors absorbed news about rising costs to develop these AI features.
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But Microsoft shares were down 1% after-hours as investors absorbed news about rising costs to develop these AI features.
The stock rose as much as 1.3% to $403.95, resulting in a market capitalization of $3 trillion. The threshold cements Microsofts status as one of the largest public stocks. It briefly surpassed Apple Inc. in value — which last year became the first company to hit $3 trillion — but subsequently dropped back below the iPhone maker, with the two trading places ever since.
Microsoft Share Price: The stock rose as much as 1.3% to $403.95, resulting in a market capitalization of $3 trillion. The threshold cements Microsoft’s status as one of the largest public stocks. It briefly surpassed Apple Inc. in value — which last year became the first company to hit $3 trillion — but subsequently dropped back below the iPhone maker, with the two trading places ever since.
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Former OpenAI CEO Sam Altman will lead a new research team at Microsoft following his surprise ouster that shocked the tech industry.