--- title: The tale of hardware vs. software visualized through four decades of market cap development by Quartr description: "Four intriguing facts:\n→ In 1981, $IBM sparked the personal computing revolution with the release of its blockbuster IBM PC.\n→ $MSFT was assigned to develop the operating system under a non-exclusive deal, instantly catapulting the company into a market-leading position in software.\n→ In 1986, Microsoft went public with a market cap equaling 1% of IBM's, which at the time was the largest company in the world.\n→ IBM's market cap now equals ~5% of Microsoft's, which now is the largest company in the world with a market cap exceeding $3 trillion." image: https://blog.syzgroup.com/hubfs/2-May-01-2024-09-45-47-1395-AM.jpg --- [![Syz Private banking](https://blog.syzgroup.com/hs-fs/hubfs/Logo.png?width=140&name=Logo.png "Syz Private banking")](https://www.syzgroup.com/fr) ## **Thinking** out loud [Subscribe](https://25733253.hs-sites-eu1.com/newsletter-signup?hsLang=en) [![Contact Us](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2) - [OUR SERVICES](https://www.syzgroup.com/en/private-banking) - [ABOUT SYZ](https://www.syzgroup.com/en/about/welcome-to-syz) - [CAREERS](https://www.syzgroup.com/en/careers) - [PRESS](https://www.syzgroup.com/en/news) - [Blog Homepage](https://blog.syzgroup.com) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thoughts/tag/the-week-in-seven-charts) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Fixed Income Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [Equity Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [CONTACT](https://www.syzgroup.com/en/contact-us/form) - [ENGLISH](https://www.syzgroup.com/) - [FRANÇAIS](https://www.syzgroup.com/fr) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Weekly Fixed Income](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [The week in seven charts](https://blog.syzgroup.com/slow-food-for-thoughts/tag/the-week-in-seven-charts) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [Weekly Equities](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Our Services](https://www.syzgroup.com/en/private-banking) - [About Syz](https://www.syzgroup.com/en/about/welcome-to-syz) - [Careers](https://www.syzgroup.com/en/careers) - [Press](https://www.syzgroup.com/en/news) - [Contact](https://www.syzgroup.com/en/contact-us/form) - [English](https://www.syzgroup.com/) - [Français](https://www.syzgroup.com/fr) ## **Sign-up** for our newsletter This website uses cookies to enhance user navigation and to collect statistical data. 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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. 1 May 2024 - - - #### The tale of hardware vs. software visualized through four decades of market cap development by Quartr Four intriguing facts: → In 1981, $IBM sparked the personal computing revolution with the release of its blockbuster IBM PC. → $MSFT was assigned to develop the operating system under a non-exclusive deal, instantly catapulting the company into a market-leading position in software. → In 1986, Microsoft went public with a market cap equaling 1% of IBM's, which at the time was the largest company in the world. → IBM's market cap now equals ~5% of Microsoft's, which now is the largest company in the world with a market cap exceeding $3 trillion. [#microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) ![The tale of hardware vs. software visualized through four decades of market cap development by Quartr](https://blog.syzgroup.com/hubfs/2-May-01-2024-09-45-47-1395-AM.jpg) ![The tale of hardware vs. software visualized through four decades of market cap development by Quartr](https://blog.syzgroup.com/hubfs/2-May-01-2024-09-45-47-1395-AM.jpg) #### Disclaimer This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. Read More ## Related Articles [meta|](https://blog.syzgroup.com/syz-the-moment/tag/meta) [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) #### [$META and $MSFT are cutting internal Claude use](https://blog.syzgroup.com/syz-the-moment/meta-and-msft-are-cutting-internal-claude-use?hsLang=en) $META and $MSFT are cutting internal Claude use as AI bills climb with Microsoft slashing per employee budgets from $100K to $10K a month and Meta pushing Muse Code even as Claude spend stays massive. More companies are going to start treating tokens like a real budget which keeps AI usage growing but puts a lot more pressure on OpenAI and Anthropic pricing. Source: Shay Boloor @StockSavvyShay **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 06/10/2026 [equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) #### [Microsoft $MSFT is planning a major ramp in its next-gen Maia 300 AI chips, with talks underway with TSMC to secure capacity for 300,000+ chips for 2027.](https://blog.syzgroup.com/syz-the-moment/microsoft-msft-is-planning-a-major-ramp-in-its-next-gen-maia-300-ai-chips-with-talks-underway-with-tsmc-to-secure-capacity-for-300000-chips-for-2027?hsLang=en) Microsoft plans to unveil Maia 300 as soon as September and ultimately wants capacity for 1M+ chips. The goal is to reduce reliance on Nvidia and win major Azure customers like Anthropic. Its current Maia 200 chips are already 30%-40% cheaper to operate than cutting-edge Nvidia chips for OpenAI and Microsoft models. Source: The Information, Wall St Engine **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 11/08/2026 [equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) #### [Yesterday, $MSFT just made history](https://blog.syzgroup.com/syz-the-moment/yesterday-msft-just-made-history?hsLang=en) The company just set a new record for the largest single-day-market-value increase in history. Source: Yahoo Finance **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 31/07/2026 ## Straight from the Desk # Syz the moment Live feeds, charts, breaking stories, all day long. [Discover more](https://blog.syzgroup.com/syz-the-moment) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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