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.

U.S. stock futures point to a higher open, with strong earnings after Wednesday's market close from Meta and Microsoft providing some underlying support.