Microsoft eyes record $490 billion market value surge

Microsoft shares soared as much as 17%, adding $490 billion to market capitalization, potentially the largest one-day increase in stock market history. The surge followed a 43% jump in Azure cloud revenue for the fiscal fourth quarter, the fastest growth since early 2022. The gain exceeds the entire market value of 96% of S&P 500 stocks and is larger than the total equity markets of countries like South Africa and Turkey.