Meta and Microsoft have been investing heavily in AI infrastructure in recent years, and are set to still shell out billions in capital expenditures.
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Shares of Meta
soared 12% and Microsoft
popped 5% on Thursday, after the companies reported better-than-expected earnings that beat on top and bottom lines.
Microsoft topped the $4 trillion market cap benchmark with the move, joining Nvidia in the club.
US stock futures higher after Meta, Microsoft results
Meta to spend up to $72B on AI infrastructure in 2025 as compute arms race escalates | TechCrunch
Meta and Microsoft add $500bn to value overnight: ‘Investors are screaming with joy’
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