Microsoft has surpassed Google in market valuation for the first time in three years, making it the third most valuable company in the world.
Microsoft is currently valued at $753 billion, while Alphabet, the parent company of Google, is valued at $739 billion. The company still trails behind Apple and Amazon at $923 billion and $782 billion, respectively.
Google and Microsoft have traded positions a few times in recent years, so the move isn’t entirely surprising. However, it does highlight the improvements that Satya Nadella has made to the company since he became CEO four years ago, The Verge notes.
Some analysts see the company’s cloud business, which currently accounts for 30% of its revenue, as doubling over the next few years, something that could allow Microsoft to reach a $1 trillion market value.
Microsoft’s booming cloud-computing business is part of what has spurred its growth. Microsoft currently holds a larger percentage of the cloud market than Google, but trails behind Amazon. Amazon’s AWS is currently the market leader in the cloud space.