CNBC Daily Open: Nvidia shares top $1,000 on AI boom

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Nvidia to split stock, sales to soar
Shares of Nvidia rose more than 7%, topping $1,000 for the first time, in after-hours trading after its first-quarter earnings and sales beat analysts' expectations. The chipmaker expects second-quarter sales of $28 billion, compared with estimates of $26.6 billion. The company plans to split its stock 10 for 1.

Wall Street sinks on inflation fears
The Dow Jones Industrial Average plunged more than 200 points, marking its worst day so far this month as minutes of the Federal Reserve's latest meeting stoked concerns about sticky inflation. The S&P 500 and the Nasdaq Composite also lost ground. Treasury yields inched higher as the prospect of rate cuts was pushed further out. Oil prices fell for the third consecutive day ahead of an OPEC meeting.  

Fed inflation worries
Minutes of the Federal Reserve's latest rate-setting meeting showed the central bank was concerned about the "lack of progress" in bringing inflation closer to its 2% target, sending the Dow down 200 points. The minutes also revealed that "various participants mentioned a willingness to tighten policy further should risks to inflation materialize in a way that such an action became appropriate." The Fed policymakers maintained the benchmark borrowing rate within the 5.25%-5.5% range.

Alexa's AI makeover
Amazon plans to upgrade its Alexa voice assistant with generative artificial intelligence and charge a monthly subscription for the service, according to people familiar with the plans. The move