Microsoft surpasses $4 trillion in market cap

Microsoft shares soared after yesterday's impressive quarterly results, bringing the tech giant into the $4 trillion market cap club, an unprecedented record, alongside Nvidia, another AI giant, the Wall Street Journal reports. The historic valuation is the latest sign of growing optimism regarding the AI investment boom.

"Cloud and AI are the driving force behind business transformation across every industry," said Microsoft CEO Satya Nadella. "We're innovating across the entire technology stack to help customers adapt and thrive in this new era."

The results drew praise from Wall Street analysts during a conference call in which Nadella discussed the opening of new data centers on six continents in the past year and touted major contracts with global companies such as Nestlé and Barclay's.