Live updates: Bitcoin holds near $64,000 as Microsoft's AI payoff lifts stocks
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- Bitcoin traded near $63,900 on Thursday, easing slightly from the $64,000 level, per CoinDesk data
- Microsoft rose 8% in premarket after its cloud unit posted its fastest growth in four years while holding the line on spending
- S&P 500 futures gained 0.2% and Nasdaq 100 contracts rose 0.4%, with the Nasdaq 100 having slipped into correction territory
- Investors read the results as proof AI capex is converting to growth, a sharp contrast with Alphabet, which raised its spending forecast the prior week and unsettled the market
- Bitcoin has been tracking the chip and AI complex trade closely rather than moving on crypto-specific catalysts
Why it matters: Microsoft delivered the combination investors wanted — faster cloud growth without a bigger spending bill — that Alphabet failed to provide the prior week, and that distinction matters because the source notes Bitcoin has been moving with the AI/chip trade rather than on crypto-native news, meaning big-tech AI earnings are now directly moving BTC's tape.
