Stocks are rebounding on Thursday, fueled by Microsoft's gains and renewed appetite for semiconductors. The software giant reported revenue of $90 billion, an 18% increase from a year earlier, while adjusted earnings reached $4.81 per share. Both figures topped analyst expectations, which had called for revenue of roughly $87.6 billion and earnings of $4.24 per share. Azure, Microsoft's cloud platform and a key barometer of enterprise AI demand, posted 43% growth, outperforming forecasts and reinforcing investor confidence that businesses continue to expand spending on AI-powered cloud services. The company is expected to invest approximately $145 billion during fiscal 2026 as it races to build the computing infrastructure needed to support AI services.