Meta, Microsoft reports lift AI-related stocks
The reports appeared to boost demand for shares in AI chip leader Nvidia Corp, which rose 2.8% in late trading, and chip rival Advanced Micro Devices, which rose 2%. Shares in Amazon.com, which competes with Microsoft in cloud-computing and is due to report results on May 1, were up 3% with strong after-the-bell volume. Shares in Microsoft soared more than 6% in late trading after it topped quarterly revenue expectations on strong Azure cloud-computing growth, reassuring investors its hefty AI investments were paying off.