Asian Markets Gain on Nvidia's Strong Quarter

Nvidia's strong quarterly results and forecasts for revenue growth helped drive US stocks higher on Thursday, leading to a moderate gain in most Asian markets Friday.

The chip giant rallied 8.7% after delivering stronger profit and revenue than analysts expected, and gave forecasts that topped estimates for upcoming revenue growth. This suggests demand remains strong for chips to power artificial intelligence projects, according to CEO Jensen Huang.

Other tech companies also saw gains, with Salesforce jumping 22.6% for its best day in six years after it reported one of its best quarters ever thanks to AI-driven sales and expanded partnerships.

However, not all stocks were winners: Best Buy sank amid concerns about high inflation and discouragement over the economy, while rival Dollar Tree fell despite beating profit expectations due to a lower-than-expected forecast for an underlying revenue measure.