(Reuters) -Shares in artificial intelligence and cloud-computing-related companies were rising sharply in late trade on Wednesday after Meta Platforms (NASDAQ: META ) and Microsoft (NASDAQ: MSFT ) results beat Wall Street expectations.

The reports appeared to boost demand for shares in AI chip leader Nvidia Corp (NASDAQ: NVDA ), which rose 2.8% in late trading, and chip rival Advanced Micro Devices (NASDAQ: AMD ), which rose 2%.

Shares in Amazon.com (NASDAQ: AMZN ), which competes with Microsoft in cloud-computing and is due to report results on May 1, were up 3% with strong after-the-bell volume.

Google parent Alphabet (NASDAQ: GOOGL ) shares were up more than 1% after the reports.

Shares in Microsoft soared more than 6% in late trading after it topped quarterly revenue expectations on strong Azure cloud-computing growth, reassuring investors its hefty AI investments were paying off.

Shares in social media company Meta Platforms were up more than 4%, after it also beat Wall Street estimates for first-quarter revenue, signaling that its AI-powered tools helped draw advertising dollars despite tariff-related economic uncertainty.

Shares in smaller AI-related tech company Super Micro Computer (NASDAQ: SMCI ) briefly rose sharply after the reports but then pared gains and were last up 0.7%. In the regular session on Wednesday Super Micro Computer shares had tumbled 11% after it slashed its revenue forecast.

Shares in C3.AI (NYSE: AI ) Inc were up 1% but volume was lighter.