Microsoft reached a market capitalization of $4.02 trillion on October 12, 2026, marking its first sustained period above the $4 trillion threshold since October 29, 2025. Shares have risen more than 50% since the lows recorded in June 2026.
The growth is driven by the Azure cloud division, which saw revenue increase by 43% year over year in the June quarter. Management forecasts a 45% growth rate in constant currency for the future.
The company reported that its remaining performance obligations for cloud and AI contracts reached $678 billion, representing an 84% increase. This backlog indicates long-term enterprise commitment to AI infrastructure.
On October 12, 2026, Microsoft introduced the Azure Maia 300 AI chip at the OCP Global Summit. The hardware is designed to improve data center efficiency and reduce reliance on third-party graphics chips from Nvidia and AMD.
Despite the recovery, Microsoft currently holds the position of the fourth largest US company by market capitalization, trailing behind Nvidia, Apple, and Amazon.
