Infratil hits fresh high as Nvidia earnings spur gains across Asia

New Zealand’s S&P/NZX 50 index joined a rally across Asia as investors were cheered by yet another record quarter for chip giant Nvidia, while OpenAI accelerates its push to going public, SpaceX filed its initial public offering paperwork and Anthropic was said to be on track to turn a quarterly profit for the first time.

Infratil powered gains on the local board with the data centre and renewable energy investor set to benefit from the latest tailwind for the artificial intelligence sector, while Contact Energy held above its sale price in its resumption of trading after Infratil sold down its stake in the generator-retailer.

Tower posted the steepest decline on the day after a stormy summer knocked the insurer’s first-half earnings and Turners Automotive Group dipped despite its latest record profit, while AFT Pharmaceuticals and My Food Bag’s respective results were well-received.

And Financial Markets Authority chief executive Samantha Barrass said she won’t seek another term in charge of the watchdog when her time ends in January next year.