Stock markets fluctuated on Thursday as investors digested stronger-than-estimated US economic growth and record earnings at AI chip giant Nvidia.

The broad-base S&P 500 index and the tech-heavy Nasdaq opened higher but the Dow was flat.

Shares in Nvidia were down around one percent despite posting a profit of $26.4 billion on record revenue of $46.7 billion in the second quarter.

Investors had keenly awaited the earnings update late Wednesday from the California-based firm, whose robust growth has largely driven strong gains for tech stocks in recent months.

Its shares fell, however, as important data centre revenue declined.

The earnings report comes amid market worries over a spending bubble in the artificial intelligence sector that could burst and hurt the chip giant's fortunes.

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