The surge comes following announced investments in AI after the company laid off thousands of workers earlier this month.
Microsoft is now the second company ever to surpass $4 trillion in market valuation, following artificial intelligence giant Nvidia.
Microsoft, which is traded under the ticker “MSFT”, is continuing to surge and as of noon in New York City (16:00 GMT) on Thursday, it is up 4.6 percent from the market open.
The technology behemoth said it will spend $30bn in capital spending for the first quarter of the current fiscal year to meet soaring artificial intelligence (AI) demand. Microsoft also reported booming sales in its Azure cloud computing business on Wednesday.
“It is in the process of becoming more of a cloud…
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