The SPDR S&P 500 ETFSPY was down 0.1% after the market open. Nvidia, Tesla Climb; Kellogg Soars On Buyout Deal.

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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.

U.S. stock index futures eased on Thursday, a day after markets were supported by Nvidia's fleeting $4 trillion milestone, while investors shifted their focus to upcoming economic data and pivotal trade talks.

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.

Nvidia stock briefly topped a $4 trillion market cap with Nvidia chipmaker Taiwan Semi on tap. AI plays Astera Labs and Rubrik flashed buy signals.