Zuckerberg at a UFC match

Mark Zuckerberg at UFC 300 at T-Mobile Arena on April 13, 2024, in Las Vegas (Jeff Bottari/Getty Images)

The AI trade catches fire after Microsoft, Meta earnings reports

Looks like optimism has taken over this afternoon.

4/30/25 4:23PM

Traders jumped headfirst into the AI trade after-hours on Wednesday, following glowing earnings reports from Meta and Microsoft.

Meta, for one, said it would spend more on AI-related data centers than the already gargantuan amount it had planned to, partly because it expects to do more data center projects and partly because it expects to pay higher prices for the infrastructure hardware.

Meanwhile, Microsoft posted blowout earnings that sent the stock soaring after-hours, with CEO Satya Nadella continuing to hammer home the importance of AI and the company’s capex for the quarter coming in 52% higher than the same quarter a year earlier.

AI-adjacent names that were up in recent after-hours trading:

Nvidia ⬆️ 3.2%
Super Micro Computer ⬆️ 0.8%
Arista Networks ⬆️ 6.3%
Arm Holdings ⬆️ 1.7%
Vistra ⬆️ 2.4%
GE Vernova ⬆️ 1.6%

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Tesla’s EV market share declined to 38% in August

In August, Tesla’s share of the US EV market fell to 38%, according to new data from Cox Automotive reported by Reuters. Tesla’s market share fell below 50% for the first time last year, as competitors’ EVs began hitting the market. Now, as Tesla’s own sales slip more drastically than they had last year, it’s giving up even more ground. Tesla’s market share fell from 48.7% in June to 42% in July to 38% in August, according to Reuters. That slide has come even as buyers rushing to take advantage of the federal tax credit that ends this month provide a near-term boon for sales at Tesla and other EV makers.

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OpenAI now expects to burn around $115 billion through 2029 — a full $80 billion higher than the company had previously estimated, The Information reports.

Just how much is that? It’s roughly equivalent to:

Fortunately for OpenAI, which is raising money at a $500 billion valuation, its revenue is also growing faster than expected. The ChatGPT maker now expects to make $13 billion in revenue this year and $200 billion in 2030.

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