Microsoft stock surged on better-than-expected financial results for its latest quarter and strong guidance, putting the tech giant on track to hit a $4 trillion market cap. The beat was driven in part by double-digit revenue growth in the tech firm’s closely watched Azure cloud business.

Earnings from more of the "Magnificent 7" have propelled markets higher this week, with stand out results fuelling further investor optimism around these tech behemoths. The latest earnings season has been another test for the group,

The valuation comes just weeks after Nvidia became the first to reach the milestone, as both companies benefit from the artificial intelligence boom.

Microsoft is set to soar past $4 trillion in market valuation for the first time on Thursday, as a blockbuster earnings report helps the tech behemoth become the second company after Nvidia to surpass the milestone.