Amazon and Microsoft add close to $445 billion in market value in one morning

Midterm election results and strong cloud demand sent two of the biggest names in tech near intraday records Amazon and Microsoft added close to $445 billion in combined market value in a single morning on November 4, 2026. The move came the day after the US midterm elections, in which Democrats won control of both the House and the Senate. Investors appear to have looked at the results and decided the two cloud giants were among the winners. The numbers behind the morning Amazon shares climbed between approximately 7% and 7.7% during the session. Microsoft rose by about 5% to 7%. Both stocks traded near intraday records. Microsoft accounted for the larger share of the gain, adding around $250 billion in market value on its own. The rest of the near-$445 billion total came from Amazon. For context, Microsoft has been here before, and recently. In late July 2026, the company posted a record $450 billion market-cap increase after a strong earnings report. Politics meets the data center The election results went beyond Congress. Democrats also won key gubernatorial races in Texas, Ohio, and Georgia. Meanwhile, local voters in several states approved restrictions on building new data c...