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Mark Zuckerberg at UFC 300 at T-Mobile Arena on April 13, 2024, in Las Vegas (Jeff Bottari/Getty Images)

The AI trade catches fire after Microsoft, Meta earnings reports

Looks like optimism has taken over this afternoon.

Nate Becker

Traders jumped headfirst into the AI trade after-hours on Wednesday, following glowing earnings reports from Meta and Microsoft. 

Meta, for one, said it would spend more on AI-related data centers than the already gargantuan amount it had planned to, partly because it expects to do more data center projects and partly because it expects to pay higher prices for the infrastructure hardware.

Meanwhile, Microsoft posted blowout earnings that sent the stock soaring after-hours, with CEO Satya Nadella continuing to hammer home the importance of AI and the company’s capex for the quarter coming in 52% higher than the same quarter a year earlier. 

AI-adjacent names that were up in recent after-hours trading:

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