Shares in the tech giant jumped after earnings came in above estimates. CEO Satya Nadella said that cloud and AI continue to drive the company's growth. Microsoft stock surged in after-hours trading on Wednesday after the tech giant beat analysts' expectations for another straight quarter.

Microsoft’s shares spiked over 7% in after-hours trading, pushing the stock toward record highs and lifting Microsoft’s market capitalization past the $4 trillion mark—cementing its place as one of just two companies to reach that level globally,

Microsoft Corp. is set to become the second company in the world to reach a $4 trillion market capitalization after reporting quarterly earnings that beat Wall Street’s expectations, sending the stock soaring in extended trading Wednesday.