The Globe and Mail reports in its Friday edition that Wall Street ended sharply higher on Thursday, with chip stocks jumping and Microsoft logging its biggest daily percentage gain in 18 years after the technology giant gave a stellar forecast that eased fears about massive spending on AI infrastructure. A Reuters dispatch to The Globe says Microsoft jumped more than 15 per cent, boosting its stock market value by $450-billion (U.S.), the greatest-ever single-day increase for a company on Wall Street. The tech heavyweight forecast quarterly sales and cloud growth above expectations. It also reported capital expenditures below estimates and said it expects to keep generating cash through its fiscal 2027 that has just begun. This year, investors have been spooked by heavy spending on artificial intelligence by Big Tech. Negative cash-flow reports from Alphabet and Tesla last week sparked a bout of selling in AI-linked stocks, with chip stocks also under pressure as investors questioned high valuations. The market is betting that Microsoft will move from the "battleground" camp to be a "trusted AI winner." The S&P/TSX Composite Index ended up 172.06 points at 35,505.84, recouping some of Wednesday's sharp decline.