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May 23 Reuters European stocks rose on Thursday after strong forecasts from AI darling Nvidia lifted global chipmakers, while surveys pointing to improving business activity in the euro zone prompted traders to scale back bets of interest rate cuts this year.

The panEuropean STOXX 600 index was up 0.2, with the tech index rising 1.4 to lead sectoral gains.

Shares of European semiconductor stocks including ASML, Infineon and ASM rose in the range of 1 to 3.6 after Nvidia forecast quarterly revenue above estimates, announced a stock split and raised its quarterly dividend by 150 on a postsplit basis.

Wall Street39;s techheavy Nasdaq looked set for a strong open as Nvidia climbed 6.9 in premarket trading.

While questions about the longevity of Nvidia39;s technical supremacy are being whispered in some corners of the market, the group has raised the bar again with the Blackwell Platform, the world39;s most powerful chip, said Sophie LundYates, lead equity analyst at Hargreaves Lansdown.

Being at the forefront of the specialised end of this market is a highly enviable place to be, the big question, as ever, remains whether the current market valuation is a fair reflection of the remaining opportunity, or approaching dangerous territory.

The broader equities market, however, came under pressure after a preliminary survey showed euro zone…