Microsoft's stock price closed at a record high of $359.49 on Tuesday following the company's reveal of Microsoft 365 Copilot, an AI-powered version of its productivity platform.
Microsoft's stock climbed nearly 4%, pushing the company's market cap to $2.67 trillion. The gains were fueled by the announcement of Microsoft 365 Copilot, an AI subscription service costing $30 per month. Copilot will help users with tasks in Word, Excel, PowerPoint and other Microsoft 365 apps. Microsoft joins other tech companies like Nvidia seeing record stock prices from AI investments and developments.
Microsoft has not announced a release date for Copilot. CEO Satya Nadella said the AI addition will "fundamentally change the way we work."
Since the start of the year, Microsoft's stock has increased nearly $120 per share, recovering from prices drops in 2021 and hitting all-time highs. The gains show Microsoft's growing optimism around AI and how it can boost productivity.
