Shares in artificial intelligence heavyweights Microsoft and Meta Platforms both surged in European trading on Thursday, after blowout quarterly results after-market on Wednesday. Meta shares surged 12.

Good morning. Record artificial intelligence spending isn't holding tech shares back. Job seekers are competing with AI platforms. And a full battery comes with fries at the Tesla Diner. Listen to the day’s top stories.

Shares in the tech giant jumped after earnings came in above estimates. CEO Satya Nadella said that cloud and AI continue to drive the company's growth. Microsoft stock surged in after-hours trading on Wednesday after the tech giant beat analysts' expectations for another straight quarter.

The Azure cloud business is a centerpiece of Microsoft's efforts to shift its focus to artificial intelligence, but until Wednesday the company hadn't disclosed how much money it makes.

Microsoft reveals that its Azure cloud computing platform has generated over $75 billion in annual revenue, marking a 34% increase from the previous year

Microsoft Corp. reported better-than-expected growth in its cloud business, which it says brought in more than $75 billion in the past year, as the company continues to commercialize artificial intelligence services.