Global tech shares surge as Nvidia's AI boom powers market rally

(Reuters) -Global technology shares rallied on Thursday after Nvidia’s blow-out quarterly results signalled that demand for artificial intelligence hardware remains strong even as analysts caution the boom may be outpacing ​fundamentals. The chip bellwether’s stellar results tempered some concerns over a potential AI bubble, although questions lingered around the sustainability of ‌the massive spending boom not paying off as anticipated. Nvidia is on track to add about $243 billion to its market cap, which is more than entire valuation of companies ‌such as PepsiCo, and Goldman Sachs, if gains hold, with shares up 5% at $196.53 in premarket trading.