Nvidia’s upbeat forecast for future demand calms ‘AI bubble’ fears

The world’s most valuable company, US chipmaker Nvidia, posted better-than-expected results for the latest quarter, showing a 62 percent annual increase in revenue. The positive earnings report prompted a rise in global stock markets after days of losses. The company, which designs the chips that power artificial intelligence models, is seen as a bellwether for the wider tech sector and is looking to expand in new markets, notably in the Middle East.