Microsoft surpasses Alphabet to become 3rd most valuable firm
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San Francisco, May 30: Microsoft has surpassed Alphabet, the parent company of Google, in the market capitalisation for the first time in three years, becoming the third most valuable firm after Apple and Amazon globally.
According to a report in Investor's Business Daily late Tuesday, Microsoft had a market cap of $753 billion at the close of trading, almost $14 billion ahead of Alphabet.
Apple leads with a market cap of nearly $924 billion and Amazon is at distant second, with nearly $783 billion.
The credit for Microsoft's rise goes to its CEO Satya Nadella who has been strategically restructuring the company towards Cloud and Office offerings.
Driven by consistent growth in its Office and Cloud solutions, Microsoft posted a revenue of $26.8 billion and net income of $7.4 billion in its third quarter that ended on March 31.
"We are innovating across key growth categories of infrastructure, AI, productivity and business applications to deliver differentiated value to customers," Nadella said.
Office commercial products and Cloud services revenue increased 14 per cent -- driven by Office 365 commercial revenue growth of 42 per cent.
The Azure cloud offering had 93 per cent revenue growth. Revenue in Productivity and Business Processes was $9 billion and increased 17 per cent in the quarter.
Microsoft now has over 135 million active Office 365 business users, with 30.6 million Office 365 consumer users.
Revenue in Intelligent Cloud was $7.9 billion and increased 17 per cent.
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Chinese man rejects rs 2 crore offer, lives in house surrounded by highway
Jinxi, China: A homeowner in Jinxi, a town southwest of Shanghai, has become the centre of attention after refusing to vacate his house for a motorway project. Workers built the highway around the property after he declined the government's compensation offer, transforming the house into a peculiar landmark.
Huang Ping, the owner of the two-storey house, was offered 1.6 million yuan (approximately Rs 1.9 crore) along with two properties, later increased to three. However, dissatisfied with the deal, he chose to stay. With the highway set to open in spring, Huang now lives at its centre, requiring passage through a large pipe to access the home.
Although Huang regrets the decision, calling it "a big bet" he lost, the house has become a local attraction. Residents and visitors frequently stop by to take pictures of the unusual setup.
To escape the noise and dust from construction, Huang and his grandson spend their days in the town centre, returning home only after work hours. There are concerns that the constant noise from the operational motorway will make peaceful living impossible.
The stubborn old Chinese man who refused to sell his house for a government project now regrets his decision.
— Ibra ❄️ (@IbraHasan_) January 25, 2025
Huang Ping, from Hunan province, hoped for more money but lost everything. The government built a road around his house, leaving it in the middle of a busy street. Now,… pic.twitter.com/it0rYe2fhd
