Nvidia’s latest quarterly report briefly reignited optimism around the AI trade, sending the stock sharply higher in early trading. However, soon after, renewed concerns over valuations, financial fine print and a fading prospect of a December US Fed rate cut triggered a broad reversal in global tech shares, including Nvidia.

Shares of Nvidia, the world’s most valuable company, initially jumped as much as 5 percent after the company posted stronger-than-expected quarterly revenue of $57.01 billion and earnings per share of $1.30, alongside an upbeat forecast of $65 billion for the current quarter. That early surge added more than $130 billion to Nvidia’s market capitalisation in after-hours trading. It reflected bullish investor reaction to continued strength in Nvidia’s data centre busin

See Full Page