Asian technology shares ride high on AI optimism after Nvidia’s ‘stunning’ results – business live

Investors breathe sigh of relief after AI bellwether Nvidia reports doubling in quarterly revenue to nearly $100bn Good morning, and welcome to our rolling coverage of the global economy, the financial markets, the eurozone and business. Asian technology shares rose after bumper results from the US chipmaker Nvidia last night. The AI juggernaut is rumbling on with Nvidia smashing through expectations, amid voracious demand for the tech backbone of the AI revolution. The results solidified high expectations for the company’s mega revenues going forward, and shares firmed up, leaving behind the post-results wobbles seen after previous updates. Given the might of Nvidia, which carries the largest weight of any company in the S&P 500, the results are closely watched as a gauge of sentiment towards AI adoption, and the prospects for the index, which so many portfolios track. Demand for its Blackwell chips has been particularly significant, showing that customers are continuing to spend heavily on Nvidia’s newest generation of AI accelerators rather than simply filling existing capacity. With demand still running ahead of supply, Blackwell is helping to power the next leg of the AI infrastructure build-out. Jackson Hole Economic Policy Symposium begins in the US 1.30pm BST: US Initial jobless claims for week to 22 August 1.30pm BST: US trade in goods for July..