Meta raised its capital-expenditure forecast, but it’s also posting strong enough revenue growth to support that spending.

America's tech giants aren't showing signs of slowing AI spending plans despite a stretch of economic uncertainty that has meant tough times for technology shares. After Meta Platforms (META) late Wednesday reported better-than-expected quarterly earnings,

Meta reported first-quarter sales of US$42.31 billion ($66.2 billion), beating Wall Street estimates of US$41.4 billion, with earnings per share of US$6.43 versus US$5.28 expected, according to LSEG data.

Nvidia led chip stocks higher as Meta and Microsoft offered relief to investors concerned about Big Tech's commitments to its AI buildout.

Microsoft and Meta Platforms are leading a rally on Wall Street Thursday after reporting profits for the start of the year that were even bigger than analysts expected. The S&P 500 was 1.5% higher in midday trading and heading for an eighth straight gain,

Global stocks were mixed Thursday with Wall Street forging higher following strong results from tech giants Microsoft and Meta that helped offset lingering economic worries.