Microsoft gained nearly $450 billion in market value on Thursday, setting a record for the largest single-day gain ever recorded by a company.
The software company’s shares rose above 15 per cent at the close of trading, while its market capitalisation figure surged to $3.35 trillion.
The latest stock value surpassed the previous record for the largest one-day market value gain of $441 billion made by U.S-based technology company Nvidia on April 9.
The market value gain followed Microsoft’s announcement on Wednesday that it signed more than $130 billion worth of new data centre leases in the second quarter.
The company said the decision was necessary to expand its computing infrastructure and meet rising demand for its AI-powered cloud services.
Microsoft chief executive Satya Nadella said the company’s AI-powered productivity tool, Copilot, gained more than 30 million paid users in its latest assessment.
Mr Nadella said the increase indicated customers’ confidence in the company’s technology as a driver of AI transformation.
“We are advancing the frontier on the cost-to-outcome curve, ensuring every customer can turn tokens into business results,” Mr Nadella stated. “This year, Azure revenue surpassed $100 billion for the first time, and Microsoft 365 Copilot reached over 30 million paid seats, reflecting the confidence customers are placing in us to power their AI transformation.”
Checks by Peoples Gazette showed that Microsoft’s cloud business generated $59.3 billion in revenue, a 27 per cent increase from the previous year, while its commercial performance obligation rose by 84 per cent to $678 billion.
Microsoft’s productivity and business processes segment generated $37.8 billion in revenue, representing a 14 per cent increase from the previous year.