U.S. stock futures rose in early Thursday trade, with Nasdaq futures up 0.6% and S&P 500, Dow, and Russell 2000 futures up 0.3%, as investors digested tech earnings, fresh U.S. strikes on Iranian military targets, a divided Federal Reserve, and key inflation data due later Thursday. Microsoft shares surged over 7% in early premarket trade after delivering another strong Azure quarter, with CFO Amy Hood pushing back against fears of AI overcapacity, reassuring investors on its $35.8B capex efficiency. Meta Platforms shares cracked 8% in early premarket trade despite a strong revenue quarter, as it failed to convince investors that returns on its AI investments are close at hand; CEO Mark Zuckerberg reiterated Meta would rather build long-term AI capabilities than monetize computing capacity today, and management declined to provide meaningful visibility into 2027 spending plans. Amazon shares edged higher ahead of Thursday's earnings report, with investors watching AWS growth, cloud margins, and AI capital expenditure. Apple reports after the close with shares near record highs, as investors watch for signals on iPhone demand and AI strategy amid reports of U.S. lawmakers pressuring the company not to source memory chips from Chinese suppliers.