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Amazon, Meta, and Microsoft shares climbed after the three companies reported earnings that highlighted continued AI infrastructure spending.
Amazon crosses $3 trillion in market cap for the first time. The milestone puts the company alongside Microsoft and Nvidia in the exclusive club.
Microsoft shares rose 16% in a single session, the largest one-day gain since 2008.
Microsoft earnings lifted major Wall Street indexes today even as long-term Treasury yields climbed. The results arrive amid broader rate sensitivity across growth stocks.
Lam Research shares rose 20% on strong earnings, pulling semiconductor stocks higher with gains at Micron and AMD. Microsoft and Arm results added to the momentum.
Bitcoin holds near $64,000 as Microsoft shares climb 8% in premarket after its cloud unit posted its fastest growth in four years. S&P 500 futures rose 0.2% and Nasdaq 100 contracts gained 0.4%.
Microsoft shares jumped 8% on strong Azure and Copilot growth. Meta fell nearly 9% after missing revenue guidance and reporting a sharp drop in free cash flow.