The company crossed the market-cap milestone after its earnings report showed strong growth in its cloud-computing services, bolstered by demand for its AI offerings.

Microsoft briefly crossed the $4 trillion market capitalisation milestone in after-hours trading following an impressive fiscal Q4 2025 earnings beat.

Microsoft significantly exceeded earnings expectations for the June quarter and disclosed its standalone annual Azure revenue for the first time — providing new clarity into how it stacks up against Amazon and Google in the cloud.

Microsoft's Azure cloud-computing business delivered another quarter of blockbuster growth on Wednesday, powering revenue above Wall Street's expectations and showcasing the growing returns on its massive artificial intelligence bets.

And both Meta and Microsoft were already on track to spend more than 30% of this year’s revenue on capital expenditures, compared with about 15% to 20% historically. Those outlays were already beginning to look like mere table stakes after Google parent Alphabet used its report last week to bump up its own capex spending plans for this year to $85 billion.

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.