Summary
Microsoft has become the second company to surpass a market value of $4 trillion, following Nvidia. The company reported strong growth due to high demand for artificial intelligence and cloud services, with significant investment in these areas. Despite layoffs, Microsoft's revenue and cloud business continue to grow.
Key Facts
- Microsoft surpassed $4 trillion in market value, following Nvidia.
- The company's stock increased by 4.6% on Thursday.
- Microsoft plans to spend $30 billion in capital expenses for AI.
- The Azure cloud business reported strong sales growth.
- Microsoft's revenue was over $76.4 billion.
- Microsoft invested heavily in OpenAI, enhancing its AI capabilities.
- The company laid off 9,000 employees, or 4% of its workforce, while expanding its AI focus.
