Asian markets rallied Thursday after blowout earnings from chip powerhouse Nvidia cooled worries over an AI bubble and overshadowed a Federal Reserve report that dealt a blow to hopes for a December interest rate cut.

Global equities have struggled of late owing to warnings that valuations -- particularly in the tech sector -- have been overdone and are due a pullback, and possibly a sharp correction, following a record-breaking rally this year.

Some market-watchers have warned that the hundreds of billions of dollars pumped into artificial intelligence will not likely realise any profits for some time, while others point out that infrastructure to meet demand is not yet in place.

Wednesday's report from Nvidia -- one of the torchbearers of the AI revolution -- was therefore seen as a b

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