Microsoft's stock hits fresh record, rallying despite drop in broader market
On a down day for the market, Microsoft reached a record high for the first time in 11 months.
Shares of the software giant rose 0.8% to close at $467.68. Microsoft has once again reclaimed the title of world's largest company by market cap, with a valuation of $3.48 trillion. Nvidia has a market cap of $3.42 trillion, and Apple is valued at $3 trillion.
Microsoft last recorded a record close in July 2024. The stock is now up 11% for the year, while the Nasdaq is flat.
Tech stocks broadly dropped on Thursday, led by a plunge in Tesla, as CEO Elon Musk and President Donald Trump escalated their public beef. Musk, who was leading the Trump Administration's Department of Government Efficiency (DOGE) until last week, has slammed the Trump-backed spending bill making its way through Congress, a spat that has turned personal.
But Microsoft investors appear to be tuning out that noise.
Microsoft CEO Satya Nadella focused on his company's tight relationship with artificial intelligence startup OpenAI in an interview with Bloomberg, some portions of which were published on Thursday.
"Why would any one of us want to go upset that?" he told Bloomberg. Nadella told analysts in January that OpenAI had made a large new commitment with Microsoft's Azure cloud. In total, Microsoft has invested nearly $14 billion in OpenAI.
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