Asian shares gain on Nvidia’s impressive earnings – Shafaqna English

The FTSE 100 fell 0.5% as oil prices dropped, hurting energy companies like Shell and BP. Prudential reported an 8% rise in new business profit. UK vehicle production declined 11.6% year-on-year. Investors await Fed Chair Warsh's speech at Jackson Hole for monetary policy signals.

European stocks were flat on Thursday, with the Stoxx 600 Index down 0.1%, as investors reacted to Nvidia's strong earnings and guidance. Nvidia reported quarterly revenue more than double year-on-year, forecasting 70% annual growth, and shares rose 5.6% after hours. Suppliers like ASML and STMicroelectronics also gained. German consumer sentiment improved slightly, while oil prices fell on Middle East peace talks.

Nvidia forecast a 70% revenue jump for next fiscal year, boosting its stock 5% in after-hours trading. The company also agreed to buy AI platform Hugging Face for $12.9 billion. Asian chipmakers in Nvidia's supply chain gained, with MSCI's Asia-Pacific index up 0.5%. Brent crude fell 0.5% to $87.40, while gold and cryptocurrencies rose.

Nvidia (NVDA) reported Q2 revenue of $96.22B, exceeding estimates, and guided for $108B in Q3, implying 1,730% growth in four years. CEO Jensen Huang attributed growth to AI demand. Shares rose 4.71% in extended trading. Analysts note unprecedented growth pace for a company of its size.

Nvidia reportedly agreed to acquire Hugging Face, an open-source AI model repository, for $12.9 billion. The deal, if confirmed, would expand Nvidia's reach into AI software, securing its position in open-source AI and hedging against rivals. Nvidia has been circling Hugging Face for years, investing in it and previously offering a lower valuation. The acquisition follows a security incident at Hugging Face, which may have added urgency to the deal. Neither company has confirmed the report.

Nvidia reported a 70% revenue growth forecast for fiscal 2028, exceeding Wall Street expectations. CEO Jensen Huang mentioned demand is even higher but supply limits growth. Nvidia is reportedly in talks to acquire Hugging Face for $13 billion. Additionally, Meta agreed to a $16.7 billion settlement over child mental health harms. Oil prices remain low despite Iran's deal with Oman on Strait of Hormuz traffic. Economists await Fed Chair Kevin Warsh's speech at Jackson Hole. Squishy toys saw a 20