Microsoft xStock

Microsoft ($MSFT) surged 2.5% Thursday, closing just below $500 after Azure posted 43% growth and crossed $100 billion in annual revenue, prompting price target raises from Citi and Wells Fargo.

Riot Platforms has signed a 20-year, $9.1 billion AI data center lease at its Rockdale campus with an unnamed frontier AI lab, while reporting Q2 revenue that beat analyst estimates.

Microsoft surged more than 16% after Azure topped $100 billion in annual revenue for the first time, lifting the S&P 500 and Nasdaq back from a Fed-driven selloff.