BUSINESSFORTUNE
Microsoft’s best day in markets since 2008 shows the AI trade isn’t dead, just pickier
Microsoft's stock surged 15.5% for its best day in nearly 18 years after reporting stronger-than-expected profits, driven by growth in its Azure cloud business and AI adoption. The S&P 500, Dow Jones Industrial Average, and Nasdaq all rebounded sharply, with AI-related stocks like Micron Technology and Advanced Micro Devices also rising. However, Meta Platforms fell 8% due to weaker profits and higher AI investment forecasts.
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- Wall Street recovers most of the prior's day loss as Microsoft and many AI stocks rally
- Wall Street recovers most of the prior’s day loss as Microsoft and many AI stocks rally
- The AI trade split Big Tech in half as Microsoft jumped 9% and Meta fell 9%
- Meta tanks nearly 9%, Microsoft jumps 8% as the AI trade splits Big Tech
- Microsoft blinked a little in the AI capex race. Wall Street loved it.