The transformative power of artificial intelligence (AI) is undeniable. A recent McKinsey & Company research report estimates generative AI alone could add $2.6 trillion to $4.4 trillion in annual value across analyzed use cases -- comparable to the United Kingdom's entire gross domestic product.

Nvidia climbed 8.8%, with the rally gaining steam throughout the day and closing near session highs. The stock at one point shortly after the open was in the red. That bounce come

the chip maker saw its market value drop by $593 billion, the biggest one-day drop for any listed company on record.