Nvidia, Adobe events add to new AI enthusiasm

There was heavy activity in the artificial intelligence market this week, as the likes of Nvidia (NASDAQ:NVDA), Adobe (NASDAQ:ADBE) and Microsoft-supported OpenAI all made more inroads in the expanding and popular tech sector.

Nvidia (NVDA) claimed a good piece of the AI spotlight as it held its GTC conference, with the highlight being Chief Executive Jensen Huang's keynote presentation. Huang wasted little time in saying, "The iPhone moment of AI has arrived" in reference to the attention generative AI and, OpenAI's, ChatGPT, in particular, has received of late.

Wall Street liked what Nvidia (NVDA) had to say, as the company's shares got a boost from investors following its AI plans.

Nvidia (NVDA) also gave details about new deals and partnerships with the likes of Microsoft (NASDAQ:MSFT), Medtronic (MDT) and AT&T (T).

With regards to OpenAI, the company, which is being supported by billions of dollars worth of investments from Microsoft (MSFT), dealt with some technical matters this week.

Early in the week, OpenAI temporarily turned off the history feature on its service in response to reports that some users were able to see the conversations of others.

Later in the week, OpenAI said it had added support for third-party plug-ins for the likes of Expedia (EXPE), Booking.com's Kayak (BKNG), Shopify (SHOP) and Salesforce's (CRM) Slack.

One of Microsoft's (MSFT) and OpenAI's top rivals, Google (GOOG), came out and made its AI chatbot, Bard, available for public use. Bard is initially being rolled out to a limited number of users in the U.S. and U.K. who got on a waitlist before being offered for use in more countries.

Nvidia (NVDA) wasn't the only tech titan to hold an event and talk about AI this week. Adobe (ADBE) held its 2023 Summit in Las Vegas, and the digital publishing and marketing technology company showed off a slate of new products and services that are heavily weighted toward its push into the AI market. One of the highlights from Adobe (ADBE) was Firefly AI, a new set of "creative generative AI models" that involve image generation and text effects.

Server and storage technology company Super Micro Computer (SMCI) saw its shares hit an all-time high during the week as it said it had begun shipping servers that include new graphics processors from Nvidia (NVDA). Super Micro (SMCI) has been on the rise for the last few months, as several analysts and researchers have called the company's technology a central component to the current boom in AI.

And Alibaba (BABA) received some attention as its shares got a lift despite one of the company's top AI executives departing to a join an unnamed AI startup.