Apple is no longer the world's most valuable company

Microsoft has surpassed Apple to become the world's most valuable company, with a market value of $2.87T. The surge is attributed to excitement about generative AI, boosted by Microsoft's support of OpenAI's ChatGPT. Apple, facing concerns about weaker iPhone sales, lags in AI fervor despite hints of its own LLM development. The longtime rivalry between the tech giants sees a shift in dynamics driven by AI.