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%.

Even at record highs, Nvidia’s stock may not be as expensive as it is touted to be. Some valuation metrics suggest room for upside

Nvidia has been on a tear lately—and that’s put the the chip maker on the cusp of breaking records. Shares have jumped 40% over the past three months, rebounding as the broader market got over the worst of its tariff fears,