Microsoft gains nearly $450B, overtakes NVIDIA after AI-focused results
Microsoft just had a massive day on the stock market, adding nearly $450 billion to its value in one go, a jump bigger than the entire stock markets of countries such as South Africa and Vietnam.
This rise of around 9% put Microsoft back at the top as the world's most valuable public company, overtaking NVIDIA.
The big reason? A strong earnings report showing that Microsoft's huge bets on artificial intelligence (AI) are really starting to pay off.
Azure growth driven by AI spending
The main driver behind this record-breaking surge was Azure, Microsoft's cloud platform, which saw better-than-expected growth thanks to companies spending more on AI-powered services.
All those billions poured into data centers and computing power are now turning into real revenue.
With another strong quarter ahead, it looks like Microsoft is benefiting from strong demand in the fast-growing AI cloud space.