AI integration takes Apple to top of the heap

New Delhi: AI, which stands for Artificial Intelligence, is facing various concerns. There is a discussion worldwide about how AI could pose a threat to human jobs. Meanwhile, technology companies around the world are embracing this technology. One of these companies is Apple, which manufactures iPhones. In the race to establish dominance in AI technology, Apple has surged ahead of other companies. It has surpassed giants like Microsoft and achieved a special position.

The iPhones manufacturers, Apple has once again became the world’s most valuable company on June 12. They this position  Microsoft. Apple’s shares rose by nearly 4% to a record high of $215.04 during intraday trading. As a result, the company’s valuation reached $3.29 trillion at one point. Microsoft’s market capitalization remained at $3.24 trillion, trailing behind Apple for the first time in five months.

On Tuesday, June 11, Apple’s shares rose by more than seven percent. The reason for the surge in shares is Apple’s plan to integrate AI features into its devices. Apple recently announced plans to incorporate Generative Artificial Intelligence technology into its built-in apps and new devices. This means users will have access to features like writing assistance and AI-generated emojis.

Besides Apple, the world’s top three most valuable companies include Microsoft and Nvidia. It was just a week ago when Nvidia surpassed Apple and became the world’s second-largest company. Last week, on June 5, Nvidia’s shares surged by 5.2% to reach a new record high of $1,224.40. Along with this, Nvidia became the world’s second-largest company with a valuation of $3.01 trillion. Nvidia also entered the $3 trillion prestigious club, which previously only included Apple and Microsoft. At present, Nvidia’s market capitalization is $3.08 trillion.

There is a fierce competition among giants like Apple, Microsoft, and Google’s parent company Alphabet regarding Artificial Intelligence. However, Tesla CEO Elon Musk is not happy with the ‘friendship’ between Apple and ChatGPT creator OpenAI. He has threatened to close Apple devices in his companies X, Tesla, SpaceX, and Neuralink.