S&P 500 futures rose Thursday, boosted by a jump in Nvidia shares as the chip giant posted record revenue and issued upbeat guidance. S&P 500 futures climbed 1.2%, and Nasdaq 100 futures gained 2%. Futures tied to the Dow Jones Industrial Average added 110 points, or 0.3%. Nvidia shares popped 14% in the premarket after the chip company said total revenue rose a whopping 265% from a year ago, driven by its booming artificial intelligence business. Nvidia, which has become the fifth-largest company in the U.S. by market capitalization, also forecast another stellar revenue gain for the current quarter, even against elevated expectations for massive growth. AI enthusiasm has powered the jaw-dropping rally in Nvidia, along with other Big Tech names, over the past year. The chipmaker’s blowout quarter could further boost confidence in the space that has benefited the broader market. “Bears tried to hit NVDA and sell the news, but there isn’t much to dislike in this report,” said David Russell, global head of market strategy at TradeStation. “There’s potentially a lot of growth ahead for this company with years of AI investment expected.” The Nasdaq Composite could see a rebound from its three-day losing streak on Thursday. So far this week, the tech-heavy index has lost more than 1%. On Thursday, investors will also be watching for weekly jobless claims data and existing home sales figures from January. Markets were mixed Wednesday as investors digested minutes from the January Federal Reserve meeting that indicated policymakers were concerned over lowering rates too quickly. Companies reporting earnings on Thursday include Moderna and Builders FirstSource in the morning, followed by Live NationBooking Holdings and Intuit after the close. U.S. Treasury yields were mixed on Thursday as investors considered the path ahead for interest rates after minutes from the Federal Reserve’s latest meeting indicated caution about cutting rates too soon. At 6:15 a.m. ET, the yield on the 10-year Treasury was down by 1.6 basis points to 4.307%. The 2-year Treasury yield was last up by 1.8 basis points to 4.671%. Japan’s Nikkei hit a record high on Thursday with investors shrugging off dismal business activity data from the country, while other Asia-Pacific markets traded in the green. The Nikkei 225 hit as high as 39,156.97, surpassing the previous record high of 38,915.87 reached in 1989. The index closed 2.19% higher to end at 39,098.68 as investors shrugged off Japan’s Jibun Bank flash purchasing managers’ index reading for February that showed business activity contracted yet again. In Australia, the S&P/ASX 200 closed marginally lower at 7,611.2. The nation’s Judo Bank composite purchasing managers’ index for February showed a return to growth, at 51.8. The monthly index is a leading indicator for business activity in Australia’s manufacturing and service sector. South Korea’s Kospi rose 0.41% to close at 2,664.27, as Goldman Sachs said the country’s central bank could be the first to cut rates on the day it chose to hold them steady. Hong Kong’s Hang Seng index traded 1.04% higher, while China’s CSI 300 added 0.86% to close at 3,486.67. Oil prices rose slightly on Thursday, holding to gains from the previous session that came amid signs of tighter supply. U.S. West Texas Intermediate crude futures (WTI) rose 17 cents to $78.08 a barrel for the prompt month. The May contract gained 14 cents to $77.45 a barrel by 0150 GMT. Brent crude for April delivery ticked up 14 cents to $83.17 a barrel, while the May contract added 13 cents, rising to $82.24 a barrel. Gold prices inched up on Wednesday as the Middle East conflict boosted safe-haven demand, while minutes of the latest Federal Reserve meeting dampened hopes for an early interest rate cut. Spot gold was up 0.1% at $2,026.21 per ounce as of 03:05 p.m. ET (2005 GMT). Prices climbed to their highest since Feb. 9 earlier in the session. U.S. gold futures settled 0.3% lower at $2,034.30.