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.

Dow Jones futures were little changed overnight, along with S&P 500 futures and Nasdaq futures.The stock market rally erased early losses Thursday to close modestly higher, with the S&P 500 and Nasdaq hitting fresh all-time highs.

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

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.

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

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.

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.

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.