Nvidia (NVDA) just delivered a strong second quarter, with revenue surging on robust artificial intelligence (AI) infrastructure buildout. Investors responded enthusiastically to the company’s solid growth and upbeat outlook, sending NVDA stock up 8.7% yesterday.
Although Nvidia's stock is trading near record highs, its valuation still looks attractive at the current P/E multiple, especially against the company’s exceptional growth trajectory and expanding AI opportunity.