Microsoft usurped Apple to become the world’s biggest company by market value, as the boom in artificial intelligence brought a new twist to the decades-long rivalry between the two Big Tech groups. The software company’s shares climbed around 1% in early trading on Thursday to take its market value to $2.87tn, just ahead of the iPhone maker, whose shares fell by almost 1%. Investors’ excitement about the new wave of generative AI has fuelled a rally in the shares of Microsoft, which is the biggest backer of OpenAI, the maker of the popular AI-powered chatbot ChatGPT.
- Date Posted:
- January 10, 2024
U.S. battery storage capacity has been growing since 2021 and could increase by 89% by the end of 2024 if developers bring all of the energy storage systems they have planned on line by their intended commercial operation dates. Developers currently plan to expand U.S. battery capacity to more than 30 gigawatts (GW) by the end of 2024, a capacity that would exceed those of petroleum liquids, geothermal, wood and wood waste, or landfill gas. Two states with rapidly growing wind and solar generating fleets account for the bulk of the capacity additions. California has the most installed battery storage capacity of any state, with 7.3 GW, followed by Texas with 3.2 GW.