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- Microsoft shares climbed 4% in premarket trading after a strong quarterly earnings report.
- Alphabet slipped 7% as revenue for its cloud division fell short of Wall Street's expectations.
- Both tech giants have piled into AI this year, powering their stocks to double-digit gains.
Microsoft stock edged higher in premarket trading Wednesday, while Google owner Alphabet fell as investors zeroed in on their cloud revenues.
Microsoft was up nearly 4%, putting its market capitalization on course to surge nearly $100 billion, per Insider calculations.