Microsoft hit $4 trillion in stock market value on Thursday, becoming the second publicly traded company after Nvidia to surpass that milestone following a blockbuster earnings report that showed its massive bets on AI are paying off.

Microsoft jumped past the $4 trillion market value mark Thursday, joining Nvidia as only the second public company ever to achieve the financial feat.

Microsoft achieved a $4 trillion market cap, becoming just the second company ever to reach that valuation. Microsoft is now the No. 2 most valuable company on the planet, trailing only Nvidia. The climbing valuation comes just after Microsoft laid off 9,000+ people, including major cuts at Xbox.