Microsoft and Meta fuel $500-billion gain in AI stocks


People walk behind a logo of Meta Platforms company, during a conference in Mumbai, India, September 20, 2023. REUTERS/Francis Mascarenhas

(Reuters) -Wall Street's AI heavyweights added a combined half a trillion dollars in stock market value late on Wednesday after quarterly reports from Microsoft and Meta Platforms showed massive investments in the emerging technology were paying off.

In extended trade, Microsoft jumped 8% and Meta surged 9%, with the two Magnificent Seven companies increasing their market values by $288 billion and $152 billion, respectively.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

US activists work to connect Iranians via Starlink
New on the iPhone: Shazam songs even when offline with iOS 26.4
First Robot: Melania Trump brings droid to White House event
Why AI means animal testing is not always needed to trial new medicines
Day of reckoning arrives for social media after US court loss
Teens get probation after using AI to create fake nudes of classmates
Revolut to base 40% of its global workforce in India by 2026
Apple rolls out age checks for UK users
Munich Re: AI making cyber attacks costlier and more effective
Nanya Technology shares surge 10% after $2.5 billion fundraising

Others Also Read