What's new: Shares jumped more than 14% after hours as the AI cloud provider reported a $104.2 billion backlog and over $25 billion in new commitments this quarter.
What's new: Palantir jumped 29.5%, Caterpillar rose 5.6%, and falling oil and Treasury yields added to the rally.
What's new: Oil fell about 5% and Treasury yields eased as traders bet a deal could reopen the Strait of Hormuz within days.
What's new: The Dow also reached an intraday record, while Caterpillar and Palantir added to recent AI-driven optimism from Amazon and Microsoft.
Why it matters: The 20-year deal shows Microsoft turning to fossil fuel generation to meet round-the-clock AI power demand.