Nvidia's record quarterly revenue

What happened: Nvidia reported record quarterly revenue, with shares surging 7.4% in premarket trading on Thursday. The chipmaker's revenue doubled year-over-year to nearly $100 billion, driven by strong AI demand. CEO Jensen Huang declared a "golden age" for AI, and the company provided a robust financial outlook, extending its guidance further into the future than ever before.

Market impact: The bullish results and outlook boosted investor confidence in AI demand, pushing Nvidia's stock up and driving optimism in Asian technology shares. The chipmaker's valuation reached $5 trillion, making it the world's most valuable company.

What to watch next: Nvidia's earnings call on May 25 will provide further insights into the company's outlook and AI demand trends. Additionally, investors will closely monitor the IPO of Shein, the fast-fashion retailer, which is set to price its offering on May 26, as it may indicate broader market sentiment towards growth stocks.