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?

Nvidia ( NVDA 4.08%) became the first company to reach $4 trillion in market cap on Wednesday -- an incredible feat considering the company was worth a fraction of tech giants Apple and Microsoft just a few years ago.

Dow Jones futures fell slightly overnight, along with S&P 500 futures and Nasdaq futures. United AirlinesUAL reported mixed results late Wednesday. NvidiaNVDA chipmaker Taiwan SemiconductorTSM headline earnings early Thursday with NetflixNFLX due after the close.

Nvidia's gain helped keep the Nasdaq Composite above water today, with the tech-heavy index climbing 0.2% to 20,677 – a new all-time closing high. However, the Dow Jones Industrial Average shed 1% to 44,023 and the S&P 500 fell 0.4% to 6,243 due in part to weakness in financial stocks.

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).

Shares in Asia are mixed after an update on inflation pulled most U.S. stocks lower, though gains for Nvidia pushed the Nasdaq to another record.

US stock market rises as Dow Jones Industrial Average rose slightly on Wednesday, gaining 88 points (0.3%) as investors reacted to better-than-expected bank earnings from Goldman Sachs, Morgan Stanley,

Nvidia owns a 7% stake in CoreWeave, and made it possible for the young company to be the first to launch its latest GPUs. In February, CoreWeave became the first hyperscaler to make Nvidia's new Blackwell architecture broadly available -- and it just did the same recently with the latest iteration, Blackwell Ultra.

Tech led US stocks higher on Tuesday as a key consumer inflation print showed inflation accelerated in June, big banks kicked off earnings season, and Nvidia was set to receive a green light for trade with China from the Trump administration.