Meta, Microsoft roar higher on strong earnings as AI spending booms
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. Both Meta and Microsoft have been investing heavily in artificial intelligence infrastructure in recent years, and the companies said they expect to continue to shell out billions in capital expenditures. Meta said capital expenditures will ra