Tesla stock rises on optimism over the electric-vehicle maker’s growth projections, Microsoft’s Azure growth misses estimates, Meta’s fourth-quarter profit handily tops forecasts, and UPS says it will be reducing volume with Amazon.

U.S. stock futures point mostly higher as investors react to corporate earnings, Apple is slated to report results after the bell, and Tesla stock gains after the company delivers an upbeat update on its Full Self-Driving technology.

Lam Research issued better-than-expected guidance for the current quarter. For its current quarter, the maker of equipment for semiconductor manufacturing forecast per-share earnings between 90 cents and $1.

The tech sector, particularly Nvidia ( NASDAQ: NVDA) and other chipmakers, is under heightened scrutiny after disruption in the AI industry by Chinese startup DeepSeek triggered a market selloff on Monday. The selloff represented “a correction,” and was “not the start of a sustained bear market,” Goldman Sachs said Wednesday.

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IBM delivered better-than-expected fourth-quarter results and unveiled its big bets on artificial intelligence strategies and offerings.

US stocks ended higher on Thursday as investors digested a stack of key earnings reports, with upbeat comments from Tesla helping to offset a disappointing forecast from Microsoft.

IBM reported a 1% rise in revenues overall, while its software unit grew 10% on a year-over-year basis amid growing demand for artificial intelligence and its operating system known as Red Hat Linux. CEO Arvind Krishna also said that the company posted $5 billion in bookings for its generative AI segment.

IBM shares are jumping 8% after the tech-infrastructure provider reported a quarterly per-share profit that beat expectations — helped by a jump in software sales and AI-related demand. Lam Research stock is gaining nearly 6% after the maker of equipment for semiconductor manufacturing issued better-than-expected guidance for the current quarter.

Wall Street's main indexes rose on Thursday, driven by post-earnings advances in Meta and Tesla, although Microsoft's weak cloud forecast and downbeat results from Cigna dampened investor enthusiasm. Microsoft MSFT.O dropped 4.7% after forecasting disappointing growth in its cloud computing business.

Tesla, IBM and Meta Platforms helped lead most U.S. stocks higher after a rush of profit reports from some of the country’s most influential companies