Nvidia stock was finding its footing Friday after the selloff following its earnings report. The results weren’t able to keep the market from falling, but Wall Street analysts are backing the chip maker,

The losses spread to Asia, where Japan’s Nikkei 225 index fell 1.8 per cent and South Korea’s Kospi slid 3.4 per cent on Friday morning. Hong Kong’s Hang Seng benchmark was down 1.8 per cent, and mainland China’s CSI 300 declined 1.4 per cent.

Nvidia reported quarterly results that handily topped Wall Street expectations, sending the stock sharply higher in after-hours trading.

The vast majority of stocks on Wall Street rose despite such swings, with more than 90% of stocks in the S&P 500 climbing. Their movements often get drowned out by Nvidia and other Big Tech stocks, whose movements have much more effect on the S&P 500 because of their immense sizes.

The releases will provide key signals for investors after a significant market pullback.

Chip giant Nvidia has reported stronger-than-expected revenues, easing investor concerns about heavy artificial intelligence (AI) spending that have unsettled markets. The company said revenue for the three months to October jumped 62% to $57bn,

Nvidia CEO Jensen Huang calls Q4 guidance 'crazy good' as chipmaker rides AI boom wave. Stock jumps 5% after beating earnings expectations in third quarter.