Recent major developments have changed the conversation and the direction surrounding Wall Street and tech stocks. First, the generative chatbot ChatGPT stunned the tech world. Many companies, like Alphabet, were seemingly caught flat-footed and are now on their horses to roll out their artificial intelligence (AI) tools. Microsoft invested billions in ChatGPT's maker, OpenAI, in a bid to eat into Google Search's domination over Microsoft Bing. 

Then, Nvidia shocked the investing world with its first-quarter results and outstanding guidance. Its stock is up 190% year to date, and the rising tide is lifting many boats, as shown below.

NVDA data by YCharts.

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Source Fool.com