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Stocks largely shrugged off Nvidia Corp.’s slightly disappointing sales outlook, signalling that the ongoing market rally retains strong momentum. Despite Nvidia’s shares dropping 3% in extended trading after CEO Jensen Huang noted high demand but a weaker-than-expected forecast, broader market indices showed resilience.

Technology stocks in Asia rose in anticipation of Nvidia Corp.’s earnings, seen as a key indicator of chip demand and the sustainability of the global stock rally that began in April. The focus on artificial intelligence (AI) intensified, with Chinese AI leader Cambricon Technologies Corp. surging 10% to a record high after reporting strong profits, while Nikon Corp. jumped 21% amid speculation that EssilorLuxottica SA will increase its stake.

The U.S. dollar initially weakened by up to 0.3%, and gold prices rose by 0.6% after President Donald Trump attempted to oust Federal Reserve Governor Lisa Cook over allegations of falsified mortgage documents.