Tesla stock had been on a post-earnings losing streak. Shares rose on Thursday, though, after Microsoft’s earnings gave the market a boost.

Shares of the EV maker closed up 3.5% at $308.85, while the S&P 500 and Dow Jones Industrial Average gained 1.7% and 1.2%, respectively.

The entire market got a boost from Microsoft’s strong quarterly report. Earnings per share were $4.81 for the quarter, up from $3.65 a year ago and better than Wall Street’s estimate of $4.24. Its shares jumped almost 16% on Thursday.

Microsoft and Tesla, of course, are different companies, but they are both in the unofficial Magnificent Seven, and both are deeply involved in the AI buildout. Microsoft is providing AI services through its cloud business. Tesla is using AI to train cars to drive themselves and robots to complete labor-saving tasks.

Coming into Thursday trading, Tesla stock had dropped for six consecutive days, including a five-day losing streak, since the car maker reported weaker-than-expected second-quarter earnings.

Tesla reported an operating profit of about $400 million, about $1.3 billion short of analyst projections. That was a problem, but investors also wanted to see more progress on AI. Tesla, for instance, launched its AI-trained robo-taxi service in Austin, Texas, in June 2025. Its expansion into other cities, with more cars, has been slower than expected.

Investors would like to see Tesla higher on its own positive AI news. For now, they will take whatever they can get. Tesla stock closed below $300 for the first time in more than a year on Wednesday.