Apple is again the world's most valuable company after AI announcements at WWDC

Apple has once again overtaken Microsoft as the world's most valuable company. The tech giant's market value rose four percent on Wednesday after the company shared its AI plans for iOS, iPadOS and macOS earlier this week.

Apple reached a total market value of $3.29 trillion on Wednesday, reports Reuters news agency. It has thus surpassed Microsoft as the most valuable company in the world for the first time in five months; that company was worth $3.24 trillion as of Wednesday.

This comes after the tech giant shared its plans for generative AI on its platforms at the WWDC developer conference on Monday evening. The company will launch 'Apple Intelligence' later this year and will provide improvements to its voice assistant Siri, among other things. However, the features are only supported on the iPhone 15 Pro and Pro Max, in addition to Macs and iPads with an M1 SoC or newer.

Early this year Microsoft actually overtook Apple, after that company incorporated OpenAI techniques into its services. As a result, Microsoft's value has risen by 16 percent in 2024, while Apple's value is currently 12 percent. Nvidia, which designs the AI ​​chips with which AI models are often developed, is now worth 154 percent more than at the beginning of this year, Reuters writes.

Apple's AI features announced at WWDC 2024. Source: Apple