Nvidia just became the first company to reach a $4 trillion market cap. Analysts project Nvidia to grow earnings per share at high rates for several more years. It's difficult to find any companies that have benefited from the growth of artificial intelligence (AI) like Nvidia (NASDAQ: NVDA).

CoreWeave shares extended gains this week after the Nvidia partner said it would invest more than $6 billion in a new AI data center in Pennsylvania.

Currently, Nvidia accounts for nearly 8 percent of the S&P 500. That’s the highest weighting for a single stock in 45 years, according to Todd Sohn, senior ETF strategist at Strategas Securities. For context, industrials account for 8.7 percent of the index, while healthcare stands at 9.1 percent.

Nvidia remains the dominant AI chipmaker in the market, but where is the stock headed for the rest of this year and into the next?

AMD stock soars 8% after unveiling its powerful MI350 AI chips, signaling a bold challenge to Nvidias dominance in AI hardware. Backed by HSBCs upgrade and a price target boost to $200, AMD is finally stepping out of Nvidias shadow.

Investors have been drawn to SoundHound because the company is tapping into an expanding conversational AI market that is estimated to be worth $152 billion by 2033. SoundHound's tech can handle a range of tasks, including customer service calls over the phone and ordering meals in the drive-thru, and so far, business has been booming.

Riding the AI Revolution The artificial intelligence (AI) sector has been a hotbed of investor enthusiasm since OpenAI’s ChatGPT debuted in 2022, driving a surge in AI-related stocks. With analysts projecting the AI market to grow from $279 billion in 2024 to $1.