NEW YORK, April 27 ― Alphabet and Microsoft ignited a rally in technology stocks yesterday with earnings that showed big AI investments were driving growth, allaying doubts that their costly bets would take time to pay off after a soft forecast from Meta Platforms.

Alphabet surged 10 per cent and closed with a stock market value above US$2 trillion (RM9.5 trillion) for the first time, according to LSEG data, after the company sweetened the pot for investors with its maiden dividend and a US$70 billion stock buyback.