New York, Feb 18, 2026, 17:07 EST — After-hours
- Microsoft shares last traded at $399.60, up $2.67, after the U.S. close.
- The stock tracked a broader AI-led bounce, with traders citing bargain-hunting in Big Tech.
- Investors are weighing Microsoft’s fresh spending signals against rate uncertainty and looming AI catalysts.
Microsoft (MSFT.O) shares were up about 0.7% in after-hours trading on Wednesday, last at $399.60, after ending the day higher.
The move came with a late-day lift across technology, as the Nasdaq closed up 0.78% and the S&P 500 gained 0.56%. Nvidia rose after it said it had signed a multi-year deal to sell millions of AI chips to Meta, and Microsoft rose 0.7% in the regular session alongside other heavyweight tech names. “At a certain point, weakness in tech was bound to bring in the marginal buyer,” said Ross Mayfield, an investment strategy analyst at Baird. (Reuters)
For Microsoft, the timing also puts the spotlight back on spending plans. The company said it is on pace to invest $50 billion by the end of the decade to help expand artificial intelligence in the “Global South” — shorthand for developing and lower-income countries — and pointed to $17.5 billion of AI investments it unveiled in India last year. (Reuters)
Those announcements land as investors keep pressing the same question: when does the AI bill turn into durable profit. Microsoft last month flagged record AI outlays and slower cloud growth, a mix that jarred the stock and sharpened the debate over returns on data-center spending. “One big obvious issue is that revenues are up 17% and the cost of revenues are up 19%,” said Eric Clark, portfolio manager of the LOGO ETF, which holds Microsoft shares. (Reuters)
There is also the regulatory overhang. The U.S. Federal Trade Commission has been stepping up scrutiny of Microsoft’s cloud and software licensing practices and has sought information from rivals about bundling of AI, security and identity tools, Bloomberg reported, a process that can drag on and distract management even without a near-term charge. (Reuters)
Rates remain the other moving part. Minutes from the Fed’s January meeting were released on Wednesday, and the central bank’s next policy decision is scheduled for March 17-18. (Federal Reserve)
The next test for Thursday’s session is the data. U.S. reports due Feb. 19 include weekly initial jobless claims and the trade deficit, among other releases that can jolt rate expectations and, by extension, valuations for long-duration tech stocks. (MarketWatch)
Beyond the macro, the AI complex has a hard date coming up: Nvidia is scheduled to report results on Feb. 25. For Microsoft, the read-through is indirect but real — chip supply, pricing and demand signals feed straight into the cost and cadence of cloud build-outs. (NVIDIA Investor Relations)
After-hours trading can be thin, and late prints can exaggerate small moves. Still, the tape on Wednesday showed buyers were willing to step back into mega-cap tech on any hint that AI demand is holding up.
Traders will be watching whether Microsoft’s gains hold into Thursday, with jobless claims at 8:30 a.m. ET and positioning ahead of Nvidia’s Feb. 25 report sitting near the top of the checklist.
