Japan's Nikkei up 4% after bumper Nvidia results

Japan's Nikkei index jumped four percent on Thursday after Nvidia reported bumper results and "off the charts" demand for AI chips.

The earnings from the bellweather firm will likely soothe recent market jitters, at least for now, that tech stocks are hugely overvalued.

The Nikkei 225 was up 4.00 percent at 50,480.87 in early trade, while the broader Topix index was up 2.63 percent at 3,331.10.


In South Korea, the Kospi index also jumped almost three percent.

Nvidia reported profit of $31.9 billion on record-high quarterly revenue of $57 billion.

"Blackwell sales are off the charts, and cloud GPUs are sold out," Nvidia chief executive Jensen Huang said, referring to the latest model of its state-of-the-art hardware.

Nvidia "allayed concerns about semiconductor-related stocks, and the Japanese market is expected to start today with a buying spree," brokerage Monex said.

"The yen's weakening against the dollar, at around 157 yen, is also likely to be a buying factor for export-related stocks."