MANILA – Most Asian shares surged on Thursday after Nvidia reported stronger than expected quarterly earnings, soothing worries that AI-driven stock prices may have shot too high.

U.S. futures and oil prices were higher.

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Japan’s Nikkei 225 index initially surged as much as 4.2% before giving up some early gains. By early afternoon, it was up 2.6% at 49,801.81 as technology stocks rallied, with investor sentiment boosted by Nvidia's report of $57 billion in quarterly revenue after trading closed in the U.S., significantly above expectations.

South Korea’s Kospi added 3% to 4,047.57, with gains led by technology and energy stocks. Investors were encouraged by Nvidia's earnings and reports that the U.S. may delay planned semiconductor tariffs.

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