At the close of trading on January 24, Meta shares increased by more than 1%, reaching $390/share, bringing the company's capitalization to over $1 trillion. This was due to investors' optimistic assessment of Meta's position as a "big player" in the field of artificial intelligence (AI).

The company (then called Facebook) hit that milestone in 2021, peaking at $1.1 trillion in September.

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The AI ​​fever is helping to revive Meta

Meta shares have surged nearly 200% since last year, when CEO Mark Zuckerberg launched cost-cutting measures that resulted in 20,000 layoffs. The founder called 2023 “the year of efficiency,” as the company’s stock hit a six-year low in 2022.

Moving into 2024, Meta shares have increased by another 10%, peaking at $396/share in the January 24 trading session.

Last week, Zuckerberg revealed that Meta will purchase 350,000 H100 graphics cards from Nvidia by the end of the year, bringing the company's total number of AI graphics cards to nearly 600,000 — a move that signals a strong investment in emerging technology.

Meanwhile, Microsoft emerged as a rival aiming to overthrow Apple's position as the world's largest technology company by capitalization, when the software giant's capitalization at one point exceeded 3,000 billion USD in the trading session of the same day.

At its peak, Microsoft shares hit $404 per share, before closing at $401.5.

Nearly two weeks ago, the Windows developer's market capitalization also surpassed Apple's, but the "Apple House" quickly regained its position with a market value of 3.01 trillion USD at the present time.

Microsoft shares have risen 7% year-to-date as the company invests heavily in AI. Analysts at Citi said the company has “a solid upside” in its upcoming earnings report, thanks in part to its lead in the race for generative AI.

Similarly, Morgan Stanley said Microsoft's position and contribution in the AI ​​field "is increasingly strong," raising its price target from $415 to $450 per share.

(According to CNBC)

Meta Releases AI Program to Generate High-Resolution Images from Text Immediately after Google officially released its Gemini AI platform, Meta responded with a new, standalone web-based generative AI application that allows users to create images using text descriptions.