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’s climb also made the chip maker briefly the world’s first company with a market value of $4 trillion. Wednesday’s milestone came barely two years after the Santa Clara, Calif.-based company, led by Chief Executive Jensen Huang, notched a $1 trillion closing valuation for the first time.

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.

The chipmaker's shares are cheaper than they appear. The post Think Nvidia Stock Is Expensive? These 3 Charts Might Change Your Mind. appeared first on The Motley Fool Australia.

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.

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.

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.