Apple CEO Tim Cook, left, and Microsoft CEO Satya Nadella.
Reuters
Apple and Microsoft shares rose on Tuesday, pushing the companies over a market cap of $4 trillion.
Both companies are still behind Nvidia, which is the world’s most valuable company with a market cap of over $4.6 trillion. Microsoft previously hit the $4 trillion benchmark in July.
Microsoft stock climbed about 3% on news that the company finalized a 27% in OpenAI‘s for-profit business. The company has backed the ChatGPT maker since 2019.
The milestone comes as Apple shares have been surging in recent weeks because iPhone 17 models, released in September, appear to be selling better than their predecessors.
Apple shares have risen for 11 out of the past 12 trading days. It reports fiscal fourth-quarter earnings on Thursday. Microsoft reports earnings on Wednesday.
CORRECTION: This story has been updated to state that Microsoft hit the $4 trillion benchmark in July.
