Key Points Nvidia stock has rallied impressively in the past three months, and trades at a premium valuation.Growth-oriented investors should consider looking past Nvidia's valuation in light of the opportunity.

The Dow Jones index dropped Thursday ahead of jobless claims and retail sales. Nvidia chipmaker TSMC jumped on earnings.

Daniel Sparks and/or his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Intel and Nvidia. The Motley Fool recommends the following options: short August 2025 $24 calls on Intel. The Motley Fool has a disclosure policy.

Nvidia just became the first company to reach a $4 trillion market cap. Analysts project Nvidia to grow earnings per share at high rates for several more years. It's difficult to find any companies that have benefited from the growth of artificial intelligence (AI) like Nvidia (NASDAQ: NVDA).

Dow Jones futures were little changed early Thursday, along with S&P 500 futures and Nasdaq futures. NvidiaNVDA chipmaker Taiwan SemiconductorTSM and GE AerospaceGE jumped on strong earnings and guidance.

Nvidia owns a 7% stake in CoreWeave, and made it possible for the young company to be the first to launch its latest GPUs. In February, CoreWeave became the first hyperscaler to make Nvidia's new Blackwell architecture broadly available -- and it just did the same recently with the latest iteration, Blackwell Ultra.