Global equities edged higher on Thursday as Nvidia’s upbeat outlook and a pending AI platform acquisition bolstered investor sentiment, offsetting declines in energy markets ahead of regional diplomatic developments.
Nvidia’s stock climbed nearly 5% in extended trading after the company projected a 70% surge in revenue for its next fiscal year, citing sustained demand for AI chips through early 2028. The Santa Clara-based firm also confirmed a $12.9 billion agreement to acquire Hugging Face, an AI platform provider. The deal follows reports from The Information detailing the acquisition terms.
The tech sector’s gains contrasted with weakness in energy markets, where Brent crude fell 0.5% to $87.40 per barrel. The decline extended a four-day losing streak as Qatar’s prime minister prepared to travel to Tehran to restart U.S.-Iran peace negotiations. The diplomatic outreach added to concerns over regional supply stability, though analysts noted the move could ease broader geopolitical tensions.
Gold prices advanced 0.7% to $4,624.14 per ounce, recovering from a midweek pullback, while Bitcoin and Ether rose 0.5% and 0.8%, respectively. The gains reflected renewed interest in assets typically favored during periods of dollar debasement, with gold up 25% this month and crypto markets posting double-digit monthly gains. The U.S. Treasury’s intervention in bond markets last week was cited as a key catalyst for the shift.
Regional equity markets showed mixed performance. MSCI’s broadest Asia-Pacific index outside Japan rose 0.5%, led by South Korea’s Kospi, which jumped 1.8% despite a 25-basis-point rate hike by the Bank of Korea. U.S. equity futures tracked modest gains, with S&P 500 e-mini contracts up 0.5%. European markets were subdued, with pan-region futures up 0.4%, though Germany’s DAX futures edged just 0.1% higher and FTSE futures slipped 0.4%.
Corporate earnings and economic data releases were scheduled for the session. Marvell Technology, Royal Bank of Canada, and Pernod Ricard were set to report quarterly results. In Europe, Germany’s GfK/NIM consumer sentiment index for September, France’s July producer prices and unemployment data, and the Euro Zone’s July M3 money supply growth were all due for release.
