U.S. stocks rose and erased their losses for the week so far, as Nvidia and other technology companies led the way.

Despite U.S. government approval for some shipments of its H200 chips to China, Nvidia CFO Colette Kress said the company has "yet to generate any revenue" from the country, and she isn't sure if any imports of its chips will be allowed.

Nvidia shares rose 2% afterhours following the AI chip giant reporting record sales and income. Here are the key figures: Fourth-quarter sales came in at $68.1 billion, beating the $66.1 billion expected by analysts.

Artificial intelligence chipmaker Nvidia on Wednesday announced another quarter of astounding quarterly growth as investors try to decipher whether technology’s latest craze is overblown hyperbole or a springboard into a new era of prosperity and productivity.

Asia-Pacific markets were poised to open higher on Thursday, tracking Wall Street gains as strong earnings from Nvidia and Oracle lifted investor sentiment.

Big Tech is pouring nearly $700 billion into AI infrastructure, much of it flowing through Nvidia. That concentration creates a unique kind of power and a new kind of risk.

Nvidia wants to be in your next laptop, not just your data center.

The S&P 500 rose 0.81% to end at 6,946.13, while the Nasdaq Composite jumped 1.26% to 23,152.08. The Dow Jones Industrial Average added 307.65 points, or 0.63%, to 49,482.15.

Chipmaker Nvidia forecast first-quarter revenue above market estimates on Wednesday, betting on Big Tech's unabated spending on its artificial intelligence processors amid widespread scrutiny of massive AI investments.

Chipmaker Nvidia reported its fourth quarter revenue jumped by 73% compared to the same period a year ago to $68.1bn (£50.2bn) - a record haul for the company. The revenue figures beat analyst expectations and come amid a wave of investor scepticism towards the massive amounts of capital being spent on artificial intelligence (AI) technology.