(Reuters) -U.S. stock index futures jumped on Thursday after Nvidia’s stellar results quelled some concerns around an AI bubble, boosting technology stocks, while a long-awaited jobs report was also in focus.

Nvidia surged 5.5% in premarket trading after the world’s most valuable company forecast sales above analysts’ estimates for the current three months after surpassing expectations for third-quarter revenue.

CEO Jensen Huang shrugged off concerns about an AI bubble on a call with analysts, saying, “We see something very different.”

A year-long rally in high-flying technology stocks had begun to lose some steam as investors became increasingly cautious of a potential AI bubble.

HSBC analysts wrote in a note that Nvidia’s earnings “should inject confidence back into the AI narrative.

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