Nvidia finds itself in a unique position among its peers. With its growth and dominant market share, the company is squarely in the sights of the entire tech industry. Rival chip

After a rally of that magnitude, investors are wondering if the stock is still a buy.

Key Takeaways Major U.S. indexes were higher at midday Tuesday as tech stocks surged and oil prices eased. Nvidia shares rose as partner Foxconn touted strong demand for its servers and Nvidia’s artificial intelligence chips.

Nvidia investors might be further enthused by sales figures from key supplier Taiwan Semiconductor Manufacturing.

Investors have been largely upbeat lately, with strong economic data offsetting rising tensions in the Middle East and uncertainty over the U.S. elections. On Tuesday, a tech-driven rally left the S&P 500 within striking distance of a new all-time record.

Nvidia stock seems to be climbing back to its record high close from June. The AI chipmaker’s stock was up almost 1% at the open on Wednesday, to about $134 per share. It later fell to about $133 per share.