Microsoft tops $2T market cap as it unveils AI-powered Bing, Edge browser
Jean-Luc Ichard

Microsoft (NASDAQ:MSFT) topped $2T in market value on Tuesday as it said it would integrate artificial intelligence into its Bing search engine as it looks to compete with Google (NASDAQ:GOOG) (NASDAQ:GOOGL) in the lucrative market.
"I think this technology is going to reshape pretty much every software category," Microsoft (MSFT) CEO and Executive Chairman Satya Nadella said at the opening of the event, held at the company's Redmond, Washington campus.
Microsoft's (MSFT) Nadella explained that Bing is now running on technology from OpenAI, the maker of the popular ChatGPT chatbot, that is better than ChatGPT itself.
Using AI, Bing will generate content for search users, Nadella added. 
The new version of Bing is capable of switching to AI chat mode and could make shopping for goods and services easier, Microsoft (MSFT) said at the event.
OpenAI CEO Sam Altman also attended the event, telling onlookers that Microsoft (MSFT) was using a new version of OpenAI's technology specifically geared for search.
The new version of Bing is available today for desktop in limited preview, with a wider rollout expected soon. A mobile version is also expected to come later
In addition to Bing being powered by artificial intelligence, Microsoft (MSFT) also unveiled a new version of its Edge browser powered by AI.
The new version of Edge can summarize web pages and uses the AI-enhanced version of Bing for chat, as well as writing, Microsoft explained during the event.
Microsoft (MSFT) shares closed up 4.2% to finish at $267.56.
Last month, Microsoft (MSFT) announced that it had made a multi-billion, multi-year investment in OpenAI. 
Earlier on Tuesday, Wedbush Securities said Microsoft's (MSFT) integration of ChatGPT into its products would set off an "AI arms race."