第一家市值上4万亿美元的公司是谁：英伟达还是微软？

Core Insights - The market capitalization of Microsoft and Nvidia is approaching $4 trillion, driven by the AI frenzy, with Nvidia at $3.89 trillion and Microsoft at $3.71 trillion [1] Group 1: Nvidia - Nvidia's market capitalization reached $3.89 trillion, with a significant increase of 26.63% over the past year [2][3] - The company's sales have surged over tenfold in the past three years, and it is expected to maintain an annual growth rate of 32% over the next three years [7][8] - Nvidia's business model heavily relies on AI demand, posing a binary risk if AI demand does not meet expectations or if technological breakthroughs diminish the necessity of its chips [8] Group 2: Microsoft - Microsoft's market capitalization stands at $3.71 trillion, with a 6.69% increase over the past year [4][5] - The Azure cloud computing division's AI services generated approximately $11.5 billion in revenue for the last fiscal year, reflecting over 100% year-on-year growth, but this only accounts for 4% of the company's total revenue [9] - Microsoft faces internal operational pressures, including recent layoffs of 9,000 employees, and has a significant gap in employee efficiency compared to competitors like Google [9] - There are emerging tensions in Microsoft's partnership with OpenAI, particularly regarding the terms of their $100 billion collaboration, which may impact Microsoft's AI strategy [10]