Even with growth going strong and the future looking bright, investors might wonder if buying Nvidia now, at a new high, is a good idea. The stock trades for 35 times forward earnings estimates, higher than a few weeks ago, but lower than a peak of more than 50 just a few months ago.

To me, Nvidia may have put AMD in a checkmate position for the time being. I think these figures reported could imply that Nvidia will remain the leader in AI data center chips and could be on its way to a new, prolonged, and sustained wave of growth.

Nvidia stock trades at $164.10 after hitting a $4 trillion market cap. Analysts eye AI growth and China talks as next catalysts.

Nvidia (NASDAQ: NVDA) stock has skyrocketed over the past few years, advancing an eye-popping 800% over three years, thanks to the company's role in the artificial intelligence (AI) boom.