Meta raised its capital expenditures guidance for 2025 to $64 billion to $72 billion from $60 billion to $65 billion.

KEY TAKEAWAYS Nvidia shares are surging in premarket trading as two of its key customers—Microsoft and Meta Platforms—posted strong results and committed to continuing their heavy artificial intelligence (AI) spending.

Shares in artificial intelligence and cloud-computing-related companies were rising sharply in late trade on Wednesday after Meta Platforms and Microsoft results beat Wall Street expectations.