Meta, Microsoft reports lift AI-related stocks

Shares in artificial intelligence and cloud-computing-related companies were rising sharply in late trade on Wednesday after Meta Platforms and Microsoft results beat Wall Street expectations. The reports appeared to boost demand for shares in AI chip leader Nvidia Corp, which rose 2.8% in late trading, and chip rival Advanced Micro Devices, which rose 2%.

Shares in Amazon.com, which competes with Microsoft in cloud-computing and is due to report results on May 1, were up 3% with strong after-the-bell volume.

Google parent Alphabet shares were up…