Microsoft shares set an all-time high as midterm results lift AI infrastructure bets

Microsoft stock rallied to a new intraday record on November 4 after Democrats won both chambers of Congress. Investors read the result as a possible brake on data-center construction, which they see as a benefit to established cloud providers with constrained capacity. The shares rose as much as 7% to about $558, above the prior intraday peak set in July 2025, and the gain added roughly $250 billion in market value at the afternoon high. A Benzinga/Forbes account puts the rally alongside Amazon, adding about $400 billion across the two companies, though the same reporting flags a risk that tighter policy could slow data-center expansion across the sector.

1. Shares rose as much as 7% to $558.05 on Wednesday, November 4, 2026, beating the prior intraday record of $555.45 set on July 31, 2025.
2. The stock was up about 6.5% in the afternoon, adding roughly $250 billion in market value.
3. Democrats won both chambers of Congress in the 2026 midterms, along with governors' races in Texas, Ohio and Georgia.
4. Microsoft and Amazon together added about $400 billion in market value on the day, per Benzinga reporting.
5. Texas governor-elect Gina Hinojosa has pledged a statewide moratorium on new data center construction, according to Forbes.
6. The stock was up nearly 60% from its 2026 low of $349.20, per Benzinga.