Meta raised its capital expenditures guidance for 2025 to $64 billion to $72 billion, signaling huge AI investment by Big Tech is still underway.

U.S. stock futures point to a higher open, with strong earnings after Wednesday's market close from Meta and Microsoft providing some underlying support.

U.S. stock index futures jumped on Thursday as shares of Microsoft and Meta Platforms surged after strong quarterly results from both the Magnificent Seven heavyweights pointed to a still-strong outlook for the technology sector.

Microsoft says AI now writes up to 30% of its code, while Meta predicts AI will handle half of Llama development within a year.

Microsoft CEO Satya Nadella told Meta CEO Mark Zuckerberg that a big chunk of the tech giant's code is now written by AI.