Asian stocks mostly rose Thursday after Nvidia’s quarterly revenue jumped 73% to $68 billion, easing concerns about the AI boom’s sustainability.
Key market movers:
- Japan’s Nikkei 225 hit a record 59,000 before settling +0.2% at 58,715.33
- South Korea’s Kospi surged 2.3% to 6,222.29, up 44% since January
- Samsung Electronics jumped 5.5%, SK Hynix gained 2.5%
- SoftBank Group rose 3.5%, while Tokyo Electron fell 2.8%
- Australia’s S&P/ASX 200 added 0.5% to 9,174.50
NVIDIA forecast Q2 revenue of $78 billion, beating analyst expectations. CEO Jensen Huang said demand is “skyrocketing” as “AI is here, AI is not going to go back.”
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The S&P 500 rose 0.8% to 6,946.13, with Capital Economics predicting 8,000 by year-end.
U.S. crude gained 16¢ to $65.58 per barrel. The dollar fell to 155.89 yen.
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