Tech company’s shares rise as it plans to reward investors after strong quarterly results

The S&P 500 and Nasdaq 100 are set to open higher after both Alphabet and Microsoft posted strong first-quarter earnings reports.

Investors see short-term gains from tech giants that are pouring resources into AI, which is driving the sector's market rise.

Microsoft Corp. is certainly benefitting from artificial intelligence, but not to the degree of Nvidia Corp. That’s according to Melius Research analyst Ben Reitzes, who wrote recently that the March quarter was likely a “tweener” for many large technology companies like Microsoft.