US markets crept ahead in early trading while European counterparts marked time Friday in response to sharp losses in Asia at the end of a week which has seen heightened fears of a bursting AI bubble.

A blockbuster earnings report from chip bellwether Nvidia on Wednesday seemed to soothe concerns that vast investments in the artificial intelligence sector may have been overdone.

Those hopes were short-lived, with Nvidia itself losing 1.5 percent in early trading on Wall Street as warnings grew that the tech-led rally across equities -- which has seen several markets hit record highs and companies clock eye-watering capitalisations -- may have run its course.

Adding to unease was mixed US jobs data Thursday that added to expectations that the Federal Reserve could decide against cutting

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