Welcome to the latest edition of top stock market highlights.
Nvidia Corporation (NASDAQ: NVDA)
Nvidia provided strong guidance that saw its shares jump 24.4% to a one-year high of US$379.80.
The company is the biggest manufacturer of the advanced microchips required to power a new generation of artificial intelligence (AI) services known as generative AI, popularised by the chat program ChatGPT.
ChatGPT, a technology developed by OpenAI, a company in which Microsoft (NASDAQ: MSFT) invested, is part of a new generation of search engines that can provide detailed responses with just a few simple prompts and keywords.
Already, Microsoft is incorporating ChatGPT into its new Bing search engine while technology behemoth Alphabet (NASDAQ: GOOGL) has developed Bard, a conversational AI service that is also powered by large language models.
For the first quarter ending 30 April 2023 (1Q 2023), Nvidia saw its revenue dip by 13% year on year to US$7.19 billion.
However, operating and net profit were up 15% and 26%, respectively...