Inc's (AMZN  ) new artificial intelligence chip, Trainium2, is set to give Microsoft Corp (MSFT  ) some serious competition.

This latest move by Amazon demonstrates their determination to challenge Microsoft in the fast-growing artificial intelligence market.

Designed specifically for training AI systems, Trainium2 is Amazon's latest AI chip. Its performance outpaces its predecessor fourfold and has double the energy efficiency.

The release of Amazon's chip comes just weeks after Microsoft introduced its own AI chip, Maia.

The timing of these releases highlights the fierce competition between these industry leaders. They are both pushing the boundaries of AI technology, aiming to provide cutting-edge solutions in cloud computing services.

Despite Amazon's growing competition, Microsoft's stock price remains strong and continues to reach new heights.

Throughout the year, the stock has consistently increased, currently showing a 57% growth overall and a 13% rise in November alone.

This upward trend is especially notable considering the stock's struggle to surpass the $350 mark in November 2021.

However, in July 2023, it briefly achieved this milestone, and the current bullish trend in November indicates a renewed strength in its market performance.

Microsoft's stock has experienced a remarkable surge of over 900% in the last ten years.

This sustained upward trend, combined with recent positive developments, indicates the potential for further growth.

Microsoft's stock is steadily rising and is now approaching the significant milestone of $400. This level is often seen as a psychological barrier in the stock market.

Despite facing competition from Amazon, Microsoft's impressive performance and increasing momentum suggest that overcoming this hurdle may be relatively effortless as long as the momentum persists.

After the closing bell on Tuesday, November 28, the stock closed at $382.70 trading up by 1.10%.