Analysts: AI will push Microsoft into the $3 trillion club

Analysts at the “Wadbush” Wealth Management and Consulting Foundation said that Microsoft may soon join the club of companies with a market value of $ 3 trillion, along with Apple, with the support of investors’ interest in anything related to artificial intelligence.

Dan Ives, an analyst, “Wadbush” analyst, said, according to the American “Market Watch” website, that Microsoft’s market value will be strongly driven by the cloud infrastructure business and the future gains achieved by ChatGPT.

Analysts said that the company’s cloud business over the next year and a half is well positioned to outpace Amazon’s cloud services and take the lead in this area.

Ives said in a research note that, in their estimation, Microsoft should join Apple in the $3 trillion exclusive club by early 2024.

The Wadbush analyst retained his outperform rating for Microsoft as well as his price target of $375. Shares rose 0.1% on Wednesday. The company, which is based in Redmond, Washington, currently has a market value of around $2.5 trillion and invests billions in OpenAI, the owner of the ChatGPT business.

News reports had said earlier that Microsoft intends to invest $10 billion in OpenAI, whose artificial intelligence tool, ChatGPT, has starred. In the world of the Internet since its appearance last November, it has gathered more than a million users within days