Asia shares rise in relief rally as Nvidia beats the street

Asian stocks advanced on Thursday after upbeat earnings from Nvidia soothed concerns over AI-driven disruption and rising costs, while the yen was in the doldrums, bogged down by a murky rate outlook in Japan. Lingering worries about escalating geopolitical tensions between the U.S. and Iran meanwhile kept oil prices elevated, ahead of a third round of talks between the two countries later on Thursday. Nvidia on Wednesday forecast first-quarter revenue above market estimates, betting on Big Tech’s unabated spending on its AI processors. The result, which had been closely watched by investors, quelled some fears about the massive spending companies are pouring into all things AI. That helped propel Japan’s Nikkei to a record high early in the session, while South Korea’s KOSPIwas up 2%.