US cloud companies rise after Microsoft's upbeat forecast for Azure cloud business

U.S. cloud companies rise following Microsoft's MSFT.O upbeat cloud revenue forecast

Microsoft's results could ease investor concerns about a potential slowdown in AI demand; analysts had pointed to canceled data-center leases at MSFT as a sign of excess capacity

MSFT shares jump 8.7%, Oracle ORCL.N up almost 4%, ServiceNow NOW.N rises 2.4%

Datadog DDOG.O adds 1.9%, Snowflake SNOW.N gains 5.4%, Cloudflare NET.N up 3.5%, Salesforce CRM.N 2% higher

Fellow "Magnificent Seven" companies offering cloud services also rise, with Amazon AMZN.O adding 3.1% and Alphabet GOOGL.O gaining 1.7%

As of last close, MSFT down 6.2% YTD, Oracle and ServiceNow down 15.7% and 10% YTD, respectively