Microsoft becomes second company to reach $4 trillion valuation

New York [US], August 1: Microsoft has become the second company in history to surpass a market capitalisation of US$4 trillion, following sustained momentum in its stock performance. Chipmaker Nvidia continues to lead the market with a valuation of US$4.4 trillion.
Microsoft's strong showing was driven by a surge in its share price following robust quarterly results, with accelerated growth reported in the financial quarter ending in June.
The company's stock rose by as much as five percent at the start of trading in the United States, propelled by significant gains in artificial intelligence and cloud computing services.
In the most recent quarter, Microsoft's revenue increased by 18 percent, exceeding US$76 billion, while net profit rose by 25 percent to reach US$27 billion.
Source: Emirates News Agency