Microsoft Corp. is set to become the second company in the world to reach a $4 trillion market capitalization after reporting quarterly earnings that beat Wall Street’s expectations, sending the stock soaring in extended trading Wednesday.

Microsoft’s stock price has risen so much today that it has passed a $4 trillion market valuation for the first time in its 50-year history. The software maker is the second company to be valued at $4 trillion, after Nvidia reached a market cap of over $4 trillion earlier this month.