Wall Street looked to keep momentum from a tech-fueled rally that saw Nvidia leap to become the world's first $4 trillion public company.

The S&P 500 and Nasdaq rose to highs even as Nvidia-backed CoreWeave dived, leading another tough day for growth stocks.

NVIDIA’s market value broke a record on Wednesday after dipping in spring amid political uncertainty and chip restrictions.

The chip maker's shares are up more than 50% over the past three months, leading the broader market rebound after the tariff selloff.

After the opening bell, the Dow Jones Industrial Average dropped 0.2%. But the blue chip index erased those thin losses to gain 0.2% in recent trades. The S&P 500 remained fractionally lower; the tech-heavy Nasdaq composite traded down 0.5% and is threatening to halt a three-week winning streak.

Nvidia shares rose to an all-time high on Thursday, helping lift the S&P 500 and Nasdaq Composite to all-time records of their own. The artificial intelligence chip-maker closed Thursday’s trading with a valuation of more than $4 trillion,

Nvidia (NASDAQ: NVDA) stock currently trades for around $155. However, Loop Capital just gave Nvidia a new price target of $250 per share. That indicates around 60% upside from today's price, but the implications of a $250-per-share stock are far greater.

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.

Dow Jones futures edged lower overnight, along with S&P 500 futures and Nasdaq futures. Nvidia chipmaker Taiwan Semiconductor ManufacturingTSM and Delta Air LinesDAL report key Q2 figures early Thursday.

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.