This report is from CNBC Daily Open, our international markets newsletter, providing investors with comprehensive updates regardless of their location. If you are interested, you can subscribe here. Friday Recap As Wall Street was closed on Monday for Memorial Day, here's a recap of what transpired on Friday. The Nasdaq Composite reached a new record high, driven by Nvidia's outstanding earnings report. Nvidia's stock surged 2. 6% on Friday, resulting in a 15% increase for the week. Additionally, the Nasdaq outperformed other major indexes with a 1. 41% weekly gain. The S&P 500 closed 0. 7% higher, achieving a modest 0. 03% weekly increase. Meanwhile, the Dow Jones Industrial Average experienced a slight rise on Friday but marked its first weekly decline in five weeks. Treasury yields remained relatively stable, and oil prices rebounded from their three-month lows. Soaring Net Worth of Nvidia CEO Nvidia CEO Jensen Huang's net worth skyrocketed to over $90 billion due to better-than-expected earnings, propelling the company's stock to record heights. On Thursday, the stock rose more than 9%, closing at nearly $1, 038 per share. Huang owns approximately 86. 76 million Nvidia shares, equivalent to over 3. 5% of the company's outstanding shares. To put it in perspective, five years ago, Huang's stake in Nvidia was valued at around $3 billion. Advisory Firm Recommends Rejecting Elon Musk's Deal Glass Lewis, a proxy advisory firm, has advised Tesla shareholders to reject a $56 billion pay package proposed for CEO Elon Musk. The firm cited concerns about the excessive size of the package, potential dilution of stock, and Musk's involvement in various time-consuming projects.

A judge had previously voided this package in January, which is tied to Tesla meeting specific market value targets. Tesla's board, however, defends the package, pointing to Musk's significant role in the company's growth. The proxy advisory firm also criticized Tesla's potential incorporation in Texas. Misfires of Google's AI Overview Google's "AI Overview" feature within its search engine has faced criticism for generating incorrect or controversial responses. Users shared examples of errors, such as the misstatement that Obama was a Muslim president and suggesting adding glue to pizza. While these instances highlight the challenges associated with AI-generated content, Google asserts that most information provided is of high quality. The company is actively working to address these issues. Google's Gemini image-generation tool has also faced similar problems, with users highlighting historical inaccuracies and questionable responses. $5. 3 Billion Investment in Weight-Loss Plant Eli Lilly is allocating $5. 3 billion to expand a manufacturing plant in Indiana due to the high demand for its weight loss and diabetes drugs. This investment brings Eli Lilly's total expenditure on the site to $9 billion, the highest in the company's history. The plant, expected to be fully operational by 2028, will produce the active ingredient for both drugs. Furthermore, the company is investing in additional manufacturing facilities to meet the growing demand for these medications. [PRO] Diversifying Your Portfolio Beyond Nvidia While Wall Street exhibits significant optimism towards Nvidia, with many analysts increasing their price targets following last week's exceptional earnings, some investors might feel overexposed to the artificial intelligence chipmaker. CNBC's Weizhen Tan explores alternative stocks that could help diversify your portfolio.