Nvidia stock hit a new record high early Thursday after earnings from Microsoft and Meta Platforms reinforced expectations of continued investment in its artificial-intelligence chips. Nvidia shares were up 1.

Microsoft Corp. has become the second company in the world to reach a $4 trillion market capitalization after reporting quarterly earnings that beat Wall Street’s expectations, sending the stock soaring in premarket Thursday.

Microsoft is set to become the second company in the world to reach a US$4 trillion market capitalisation after reporting quarterly earnings that beat Wall Street’s expectations, sending the stock soaring in extended trading Wednesday.