April 30 (Reuters) - Shares in artificial intelligence and cloud-computing-related companies were rising sharply in late trade on Wednesday after Meta Platforms (META.O) and Microsoft (MSFT.O) results beat Wall Street expectations.
The reports appeared to boost demand for shares in AI chip leader Nvidia Corp (NVDA.O) , which rose 2.8% in late trading, and chip rival Advanced Micro Devices (AMD.O) , which rose 2%.
Shares in Amazon.com (AMZN.O) , 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 (GOOGL.O) shares were up more than 1% after the reports.
Shares in Microsoft soared more than 6% in late trading after it topped quarterly revenue expectations on strong Azure cloud-computing growth, reassuring investors its hefty AI investments were paying off.
Shares in social media company Meta Platforms were up more than 4%, after it also beat Wall Street estimates for first-quarter revenue, signaling that its AI-powered tools helped draw advertising dollars despite tariff-related economic uncertainty.
Shares in smaller AI-related tech company Super Micro Computer (SMCI.O) briefly rose sharply after the reports but then pared gains and were last up 0.7%. In the regular session on Wednesday Super Micro Computer shares had tumbled 11% after it slashed its revenue forecast.
Shares in C3.AI Inc (AI.N) were up 1% but volume was lighter.

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Shares in AI and cloud-computing companies surged after Meta and Microsoft reported better-than-expected results. Nvidia's shares rose 2.8%, while AMD's increased by 2%. Amazon's stock climbed 3% ahead of its earnings report. Microsoft shares soared over 6% due to strong Azure growth, and Meta's shares rose more than 4% after beating revenue estimates. Smaller AI firm Super Micro Computer saw a brief rise but ended up 0.7% higher after a revenue forecast cut. C3.AI shares increased by 1% with lighter trading volume.

- Shares in artificial intelligence and cloud-computing companies rose sharply following positive earnings reports from Meta Platforms and Microsoft.  
- Nvidia and Advanced Micro Devices saw increases of 2.8% and 2%, respectively, while Amazon's shares rose 3% ahead of its earnings report.  
- Microsoft shares surged over 6% due to strong Azure growth, and Meta's shares increased more than 4% after beating revenue estimates, indicating effective AI-driven advertising strategies.

Meta, Microsoft reports lift AI-related stocks