Meta and Microsoft's financial reports exceed expectations, causing stock prices to soar. Microsoft's market value surpasses the $4 trillion mark.

On Thursday morning Eastern Time, the stock prices of Meta surged by 12%, while Microsoft soared by 5%. Both tech giants reported revenues and profits that exceeded market expectations. Microsoft's market value surpassed the $4 trillion mark, putting it on par with Nvidia. In recent years, Meta and Microsoft have been heavily investing in artificial intelligence infrastructure and have stated that they will continue to maintain capital expenditure levels in the tens of billions of dollars. Meta has raised its full-year capital expenditure forecast from $64-72 billion to $66-72 billion; Microsoft expects its capital expenditure and finance lease assets for the current fiscal quarter to exceed $30 billion, significantly higher than the analysts' expectations of $24.23 billion according to Visible Alpha.