The stock market is at highs thanks to Nvidia and AMD, but getting a little stretched. Tesla and Google are on tap.

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 stock has rallied impressively in the past three months, and trades at a premium valuation. The post Is Nvidia stock a buy now? appeared first on The Motley Fool Australia.

The Nasdaq Composite posted its latest record finish on Tuesday, supported by a jump in shares of heavyweight Nvidia, but the other Wall Street benchmarks ended lower as a key inflation report and a flurry of bank earnings failed to excite investors.

Shares in Asia traded mixed on Wednesday after an update on U.S. inflation pulled most Wall Street stocks lower, though gains for Nvidia pushed the Nasdaq to another record. Tokyo's Nikkei 225 edged less than 0.

NVIDIA Corporation (NASDAQ:NVDA) is one of the stocks Jim Cramer weighed in on. During the episode, Cramer noted that betting against the company’s CEO has not been a good idea for a long time.

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.

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 stock market marched to fresh highs with Nvidia, Taiwan Semiconductor and AI chipmakers leading and economic data solid. Online brokers also are hot.