The Nasdaq-100 is sharply higher, driven by a nearly 10% surge in Microsoft (MSFT) shares following a blowout quarterly earnings report. The company's strong performance, particularly the accelerated growth in its Azure cloud business, is boosting investor sentiment around artificial intelligence profitability. This positive momentum is overshadowing a significant decline in Meta Platforms (META) shares, which fell after missing earnings estimates and providing a weak outlook, raising concerns about the high cost of AI investments. The market is also rebounding from a sell-off following the previous day's Federal Reserve meeting.