Nvidia shares are surging in premarket trading Thursday as two of its key customers—Microsoft and Meta Platforms—posted strong results and committed to continuing their heavy AI spending.

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.

West Coast tech giants Microsoft and Meta both exceeded analyst forecasts in first-quarter earnings reports Wednesday.

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 made the comments during a conversation with Meta CEO Mark Zuckerberg. Meta says it aims to get half its code written by AI by the end of 2026.

Microsoft and Google, say AI is writing more of their code — and Mark Zuckerberg predicts AI could handle half of Meta's dev work within a year.