Games and software giant Microsoft is now worth $2 trillion.

The Xbox firm reached this new milestone yesterday (Tuesday, June 22nd) and is only the second company ever to reach this figure. The Big M was beaten to the punch by iPhone maker Apple in August of last year.

Microsoft's share price was $265.51 at market close yesterday – a 1.1 per cent increase over the day – but is sitting at $266 at the time of writing during pre-market trading. Year-on-year, Microsoft's market cap has increased 31.5 per cent.

Microsoft passed the $1 trillion mark in April 2019.

Xbox is certainly part of why Microsoft has become this valuable in recent years. The firm reported that Xbox content and services revenue rose 40 per cent in the quarter ending December 2020, bringing in over $2 billion.

The company's growing Azure cloud business is also a large factor in Microsoft's recent growth.