The City AM Live Blog

Good morning from the City AM liveblog team.

If there are fears about an AI bubble, no one’s telling the folk over on Wall Street.

Yesterday both Apple and Microsoft saw their stocks jump , making them both $4tn companies, joining an exclusive club of which chipmaker Nvidia is the only other member.

This was the first time Apple crossed the $4bn threshold, while Microsoft made a return after first hitting the milestone in July, spurred on by renewed investor enthusiasm over its AI plans.

“Apple shares are heading into the upcoming earnings print with a greater halo of positivity than any time in the past year,” JPMorgan analyst Samik Chatterjee wrote.

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