Apple's market value has spiked by $312 billion

SAN FRANCISCO (KCBS RADIO) – Apple announced this week that new artificial intelligence capabilities are launching in beta this fall, and its market share leaped up by $312 billion, making it the second most valuable company in the world.

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According to the Apple Intelligence announcement , the new AI features will be built into iPhones, iPads, and Macs. They will include writing tools, features that can summarize lectures and group threads, new visual tools such as genmoji and the “Image Wand” that can turn a rough sketch into a related image. Siri will also get an update and new design.

Apple said its new AI capabilities draw “on your personal context while setting a brand-new standard for privacy in AI.” These features are made possible because ChatGPT from OpenAI will be integrated into Siri and Writing Tools, said Apple.

“Siri can tap into ChatGPT for certain requests, including questions about photos or documents,” it added. “And with Compose in Writing Tools, you can create and illustrate original content from scratch.”

According to Axios , Apple’s $312 billion spike over two trading sessions marks “the beginning of the second phase of the AI hype cycle,” that will reward companies for simply integrating AI rather than building AI programs. Per the outlet, the spike alone is more than the value of OpenAI itself at $80 billion.

Axios also said Apple reportedly “ isn’t paying OpenAI for its use of ChatGPT,” and its market success this week put it further ahead of AI company Nvidia, according to MarketWatch.

That outlet said shares of Apple rose 7.3% Tuesday. That was the company’s best single-day percentage increase since 2022 and the third largest “market cap haul” in history for any company.

“The stock was the leading gainer in both the S&P 500 SPX and Dow Jones Industrial Average DJIA on the day, with its ascent adding almost 92 points to the Dow,” said Market Watch. “Apple shares haven’t been the biggest daily S&P 500 winner since Nov. 30, 2021, according to Dow Jones Market Data.”

Yahoo Finance reported that shares in the iPhone maker fell during premarket trading on Wednesday, though they were down less than 1%. It also reported that the new Apple Intelligence features will only work on the iPhone 15 Pro and iPhone 15 Pro Max .

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