Meta raised its capital expenditures guidance for 2025 to $64 billion to $72 billion, signaling huge AI investment by Big Tech is still underway.

U.S. stocks advanced on Thursday, with the Dow and S&P 500 posting their eighth straight session of gains after strong results from megacaps Microsoft and Meta eased concerns about artificial intelligence spending.

Microsoft and Meta Platforms drove Wall Street higher after delivering profits for the start of the year that were even bigger than analysts expected.