Shares of Microsoft fell almost 10% Thursday while Meta jumped roughly 10% after earnings from both tech giants Wednesday.

Meta jumped, while Microsoft plunged post-earnings as investors hunt for signs that big AI investments are paying off.

"Magnificent Seven" companies Meta Platforms, Microsoft and Tesla posted earnings results after Wednesday's close.

Microsoft dropped 10%, shedding more than $350 billion in market value after its cloud business failed to impress, while Meta gained 10%.

Shares of Microsoft fell almost 10% Thursday while Meta jumped roughly 10% after earnings from both tech giants Wednesday.