Wall Street ended sharply higher on Thursday, with Microsoft jumping over 15%, boosting its stock market value by $450 billion, the greatest-ever single-day increase for a company on Wall Street, after the technology giant gave a stellar forecast that eased fears about massive spending on AI infrastructure. Microsoft forecast quarterly sales and cloud growth above expectations, reported capital expenditures below estimates, and said it expects to keep generating cash through its fiscal 2027. The PHLX chip index surged 8.2%, with Micron Technology jumping 18%, Sandisk soaring 26% and Advanced Micro Devices up 13%. Amazon rose 3.9% and Apple dipped 1.4%, with both companies set to report results after the market closes. Meta Platforms tumbled after reporting a 91% drop in second-quarter free cash flow. The S&P 500 climbed 1.66% to end at 7,437.63 points, the Nasdaq gained 2.78% to 25,122.18 points, and the Dow Jones Industrial Average rose 1.19% to 52,208.06 points. Seven of the 11 S&P 500 sector indexes rose, led by technology, up 5.2%. On Wednesday, U.S. stocks closed sharply lower after the Federal Reserve left interest rates unchanged, with mixed messages from new Fed Chair Kevin Warsh leaving traders confused about the path of borrowing costs.