Microsoft shares surged after reporting strong quarterly earnings and robust growth in its artificial intelligence and cloud computing segments.

Microsoft's share price surged more than 15% on Thursday, adding roughly $450 billion in market value following an upbeat sales and cloud forecast.

Microsoft's restructuring of the Xbox division has resulted in the loss of roughly half the staff at id Software, raising questions about future projects.

Microsoft is reducing its Xbox workforce by 20% and divesting several studios to address profit margin challenges and simplify organizational complexity.