Microsoft is now raising prices on all Xbox hardware by $80-$100 and it will also plan to release $80 games later this year.

Microsoft raised recommended retailer pricing for its Xbox consoles and controllers around the world this week. Its Xbox Series S, for example, now starts at $379.99 in the U.S. — up $80 from the $299.99 price tag that debuted in 2020. And its more powerful Xbox Series X will be $599.99 going forward, a $100 jump from its previous $499.99 listing.

The Series X and Series S are available starting at $273.99 and $449.99, respectively.

U.S. technology-related stocks including many involved in artificial intelligence rose sharply on Thursday following stronger-than-expected results from Microsoft and Meta Platforms, while investors awaited results from Apple and Amazon.

U.S. stocks open higher, boosted by strong earnings from Meta and Microsoft. Apple and Amazon are due to report after the close.

U.S. stock index futures rose on Thursday, powered by Magnificent Seven heavyweights Microsoft and Meta as their strong quarterly results pointed to a resilient outlook for the technology sector. Microsoft surged nearly 9% in premarket trading after it forecast stronger-than-expected quarterly growth for its cloud-computing business Azure.