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.

The Nasdaq cruised to a fresh record high on Tuesday, powered by a jump in Nvidia, while the S&P 500 hovered below its peak, as investors digested an inflation report and a flurry of major bank earnings.

Tech stocks were an outlier, though, and the Nasdaq composite rose 0.2% to set another record thanks to Nvidia, the market’s most influential stock.

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.

June inflation data released Tuesday represented an increase from May levels, despite the headline numbers matching expectations.

Key Points The growing demand for AI computing power has propelled both CoreWeave and Nvidia's businesses to new heights.Nvidia anticipates a growing need for AI factories to deliver processing power for AI at scale.

Nvidia (NASDAQ: NVDA) has been on a monster run since the start of 2023, but so has peer AMD (NASDAQ: AMD). While AMD is up a respectable 140% since 2023 began, Nvidia has dwarfed its run by ...