Eight American companies are worth $1 trillion or more, but only Nvidia, Microsoft, and Apple have surpassed the $3 trillion milestone so far. Meta Platforms could join that exclusive club thanks to its efforts in the artificial intelligence (AI) space, which are transforming its social media business.

Microsoft posted its fiscal fourth-quarter results after Wednesday's closing bell. Investors will be focused on cloud growth, spending plans and monetization of AI tools like Copilot.

Wall Street's AI heavyweights added a combined half a trillion dollars in stock market value late on Wednesday after quarterly reports from Microsoft and Meta Platforms showed massive investments in the emerging technology were paying off.