Tech analyst Dan Ives: ‘Microsoft is clearly leading when it comes to.…'
Microsoft
is moving ahead of its rivals Amazon and Google in the cloud and hyperscaling sectors, according to Wedbush analyst Dan Ives. Speaking to The Street, Ives said Microsoft is "clearly leading when it comes to hyperscaling and cloud," with its Azure platform playing a key role. Citing strong momentum in artificial intelligence and cloud services, Ives raised his price target for Microsoft's stock to $600. He added that this figure could still be 'conservative.'
Growth in AI to reshape Microsoft's value: Dan Ives
Currently, only about 20% of Microsoft's business is linked to next-gen cloud and AI technologies. Ives expects this share to increase to 50–60% in the future, which he said could significantly change the company's overall value. While Amazon Web Services (AWS) and Google Cloud are still growing, Ives believes Microsoft's Azure has a clear advantage, helping it outperform its competitors in this space.
Microsoft slips to no. 2 as Nvidia becomes world's most valuable company
Microsoft was recently dethroned by chipmaker Nvidia that claimed top spot in global market value. Microsoft has a market value of $3.69 trillion, making it the second most valuable company globally, behind Nvidia which has a market cap of $3.77 trillion currently. The company's stock continues to hit record highs amid optimism over its AI and cloud strategy.
Apple is at third with a market value of about $3 trillion.
Nvidia's rise has been driven by its dominant position in providing chips used in AI systems, including those that power tools like ChatGPT. Its graphics processing units (GPUs) are a key component for training and running large language models.
Nvidia CEO Jensen Huang has often emphasized the AI revolution. Speaking during the company's earnings report, Huang said 'The next industrial revolution has begun — companies and countries are partnering with Nvidia to shift the trillion-dollar traditional data centers to accelerated computing and build a new type of data center — AI factories — to produce a new commodity: artificial intelligence'.
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