Nvidia’s impressive AI-related results have instigated a wave of record highs in equity markets across the globe, leading to markets in Japan reaching their first new high since 1989.

Additionally, bond yields largely increased as economic data quelled immediate hopes of interest rate cuts.

The benchmark S&P 500 index, along with the Dow Jones Industrial Average on Wall Street and Europe’s pan-regional STOXX 600 index, achieved new record highs, spurred by a surge of 15.4% in Nvidia’s shares, which additionally boosted AI-related chip stocks globally.

Nvidia (NVDA) is an American multinational technology company known for its work in the design of graphics processing units that are used in computers.