I'm talking about Nvidia (NVDA) , of course, and the question is: Can it help power the S&P 500 to another record high? The answer is yes. In premarket trading shares of the AI-chip giant are trading up nearly 1%.

US stock futures were steady after another milestone moment from Nvidia (NVDA) helped push the S&P 500 and Nasdaq to new highs. Renewed investor enthusiasm has been felt in the market's standouts, most prominently AI giant Nvidia,

Nvidia ( NVDA 1.80%) remains one of the best artificial intelligence (AI) stocks on the market. But with the chipmaker now trading at a price-to-sales multiple of 26.4, many investors may wonder if shares have gotten too expensive to buy. Don't be fooled: Nvidia stock is still reasonably priced.

A combination of tight credit spreads, a low VIX, placid bond markets, and high valuations for riskier assets could be a sign investors are complacent.

Nvidia briefly reached a market capitalisation of US$4 trillion on Wednesday, making it the first company in the world to reach the milestone and solidifying its position as one of Wall Street's most-favoUred stocks.

Nvidia stock has surged 51%, making it the first publicly traded company to briefly surpass a staggering $4 trillion market cap.

Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.