Stock markets have risen around the world after “blowout” results from chipmaker Nvidia fuelled excitement about the potential for AI.
The FTSE 100 and the Stoxx Europe 600 have each climbed 0.4pc following a strong session on Asian markets after the US manufacturer predicted sales would be about $16bn in the three months to October.
The Dax in Frankfurt has risen 0.2pc while the CAC 40 in Paris has gained 0.3pc.
Nvidia shares surged to a record high in premarket trading after its sales forecast beat Wall Street estimates for the third time in a row.
The company is the key beneficiary of the AI computing boom led by technology such as ChatGPT.
Chief executive Jensen Huang said “a new computing era has begun” as it faces skyrocketing demand from data centre operators stocking up on the company’s processors, which are adept at handling the heavy workloads required by artificial intelligence.
Victoria Scholar, head of investment at Interactive Investor said: “There is a sea of green across European equities this morning.
“Very strong Q2 results, bullish guidance, and a major share buyback from Nvidia have provided a boost to global market sentiment.
“Technology is the leading sector across Europe this morning following Nvidia’s 6.5pc after-hours gain and its near 9pc jump in Frankfurt this morning.”
Read the latest updates below.
https://news.google.com/rss/articles/CBMiamh0dHBzOi8vd3d3LnRlbGVncmFwaC5jby51ay9idXNpbmVzcy8yMDIzLzA4LzI0L2Z0c2UtMTAwLW1hcmtldHMtbmV3cy1pbmZsYXRpb24tamFja3Nvbi1ob2xlLXdpbmRmYWxsLXRheC_SAQA?oc=5
2023-08-24 10:13:20Z
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