Morning Bid: Jensen to market: We're so back

Aug 27 (Reuters) - A look at the ‌day ahead in ​European ​and global markets from Gregor Stuart Hunter

It's Nvidia's world now, we just live in it. In case there were any doubt, the chip designer forecast a 70% ‌jump in revenue next fiscal year, a rare disclosure from the world's biggest ⁠company of sales so far ahead and a show of confidence from CEO Jensen Huang that demand for its ‌AI chips will remain unabated as ‌far as early 2028.

The stock was up almost 5% in after-hours trading, showing little sign of slowing down after a report in The Information that Nvidia has agreed to pay $12.9 ​billion to buy AI platform Hugging Face.

That's the same open-source platform that was hacked into last month by OpenAI, which created a swarm of approximately 700 AI agents which tried to ⁠cover their tracks, according to an independent investigation into the breach.

More details are trickling out about the behaviour of OpenAI's rogue ​agents, including the company's disclosure that some of the bots it spun up later broke into its own networks during tests gone wrong.

However unsettling for ​humanity that may be, all of that has been ‌great news for Asian chipmakers in Nvidia's supply chain. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5%, led by a 1.8% rise ⁠in the KOSPI, which shrugged off a 25-basis-point rate hike from the Bank of Korea. S&P 500 e-mini futures climbed 0.5%.

In oil markets, Brent crude was down 0.5% at $87.40 and is on track to fall ⁠for a fourth consecutive day as Qatar's prime minister heads to Tehran in an effort to relaunch peace talks ​between the U.S. and Iran.

Gold rallied 0.7% to $4,624.14 after a pullback on Wednesday, while in cryptocurrency markets, bitcoin was up 0.5% at $78,822.84 while ether climbed 0.8% to $2,492.30.

All three are benefiting from the revival of so-called "dollar debasement ‌trades" after the U.S. Treasury department intervened in bond markets last week, this month up 14%, 25% and 34% respectively.

In early European trades, pan-region futures ‌were up 0.4%, German DAX futures edged 0.1% higher, and FTSE futures were down 0.4%.

Key developments that ⁠could influence markets on Thursday:

Earnings announcements:

Marvell Technology, ‌Royal Bank of Canada, Pernod ​Ricard

Economic events:

Germany GfK/NIM Consumer Sentiment for September

France: Producer prices and unemployment data for July

Euro Zone: Money-M3 Annual Growth for July

(Reporting by Gregor Stuart Hunter; Editing by ‌Saad Sayeed)

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