WS #13069
Microsoft reported Azure revenue surpassing $100B for the first time, with 43% growth, driving a 15% stock surge and easing AI spending fears across the sector. Citadel bought the entire portfolio of Situational Awareness LP, ending the forced unwind and triggering a relief rally in AI/semiconductor stocks like Sandisk (+25%) and Lam Research (+19%). Meta missed Q2 EPS estimates and issued weak Q3 guidance, with capex guidance of $137.5B raising free cash flow concerns, sending shares down ~9%.
Microsoft earnings beat drives tech relief rally
Microsoft reported Azure revenue surpassing $100B for the first time, with 43% growth, driving a 15% stock surge and easing AI spending fears across the sector.
Citadel bought the entire portfolio of Situational Awareness LP, ending the forced unwind and triggering a relief rally in AI/semiconductor stocks like Sandisk (+25%) and Lam Research (+19%).
Meta missed Q2 EPS estimates and issued weak Q3 guidance, with capex guidance of $137.5B raising free cash flow concerns, sending shares down ~9%.