Meta Platforms and most other U.S. stocks are rising Thursday following a rush of profit reports from some of the country’s most influential companies, but drops for Nvidia and Microsoft are keeping the market in check.

Investors punished Microsoft with a 6% share drop on Thursday as hefty AI bets failed to drive a big increase in its cloud revenue, while Meta rose 4% after CEO Mark Zuckerberg assured Wall Street about growth with promises of a "really big year".

Microsoft has tested Wall Street's patience by plunking down huge amounts of cash in pursuit of profits from AI that have yet to satisfy investors.