Stock markets rallied on Thursday after bumper earnings from chip titan Nvidia eased fears of an AI bubble and overshadowed a mixed US jobs report.

All three major Wall Street indices jumped at the open, following gains in Europe and Asia.

Investors cheered an earnings report from AI bellwether Nvidia, released after US markets closed Wednesday, which topped expectations on fierce demand for its advanced chips.

Chief executive Jensen Huang also brushed off fears of an artificial intelligence bubble that had recently caused global equities to wobble.

"Nvidia's results have completely changed the market mood and pushed out any bubble fears for another day," said Jim Reid, managing director at Deutsche Bank.

Shares in the chipmaker -- which last month became the world's first $5 trillion

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