Nvidia Leads Asian Markets Higher After Strong Earnings

Asian markets mostly rose Friday after Nvidia and other tech stocks led an advance on Wall Street.

Nvidia's strong quarterly results, which topped analysts' estimates for profit and revenue growth, helped calm worries about AI stocks. The company's CEO, Jensen Huang, said 'AI has reached its inflection point,' referring to its increasing usefulness and profitability.

The chipmaker's 8.7% surge led the S&P 500 to a 0.7% gain, while other big tech companies like Salesforce jumped higher after reporting strong quarterly results. However, some retailers, including Best Buy, fell amid concerns about high inflation and consumer spending.