C3.ai, Meta, Microsoft: Trending stocks to watch

Yahoo Finance contributor Remy Blaire reports from the New York Stock Exchange, looking at several of this morning's top trending stocks.

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RACHELLE AKUFFO: Now for a quick check of what's happening in the markets from the floor of the New York Stock Exchange. Yahoo Finance contributor Remy Blaire is there now for us. Remy, what are you watching this morning?

REMY BLAIRE: Well, the major US stock averages are trading on a mixed note, but we are seeing the NASDAQ composite index rally by triple digits up by over 1%. And this does come on the heels of that selling earnings report from NVIDIA. And as NVIDIA shares rally in New York morning trade, we're seeing the semiconductor sector higher as well. And here on the floor of the New York Stock Exchange, there is one company with a very enviable ticker symbol, and that is AI. Now, that company C3.AI has seen shares open higher, and its stock is up by 150% year to date.

Very recently, C3AI'S company CEO provided an earnings update and said that enterprise demand for a software AI is exploding and that it expects to top forecasts for its fiscal fourth quarter. And sticking with the theme of AI this morning, Meta shares are higher and the company recently did announce that it is building a custom chip for running AI models as it invests in infrastructure. It is also building AI models that can recognize over 1,000 languages as well as produce speech. And these models are-- won't be released on GitHub. But CEO Zuckerberg recently stated that it sees an opportunity to bring AI agents to people.

Last, but not least, Microsoft shares are higher this morning, and this does come as its company's President Brad Smith announced principles for regulating AI. Now, Smith did announce a framework at an event in Washington DC today backing the creation of an agency to regulate the industry. As AI advancements continue to take place, it will be important to create guardrails for that technology.

RACHELLE AKUFFO: All right. Thank you for that update. Remy Blaire there for us on the floor of the New York Stock Exchange.