Key Points The growing demand for AI computing power has propelled both CoreWeave and Nvidia's businesses to new heights.Nvidia anticipates a growing need for AI factories to deliver processing power for AI at scale.

The stock market is at highs thanks to Nvidia and AMD, but getting a little stretched. Tesla and Google are on tap.

The Nasdaq cruised to a fresh record high on Tuesday, powered by a jump in Nvidia, while the S&P 500 hovered below its peak, as investors digested an inflation report and a flurry of major bank earnings.

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.

June inflation data released Tuesday represented an increase from May levels, despite the headline numbers matching expectations.

The Nasdaq Composite advanced to its latest record high on Tuesday, powered by a jump in heavyweight Nvidia's shares, while the other Wall Street benchmarks were sluggish as traders digested a key inflation report and a flurry of bank earnings.

NVIDIA Corporation (NASDAQ:NVDA) is one of the stocks Jim Cramer weighed in on. During the episode, Cramer noted that betting against the company’s CEO has not been a good idea for a long time. He commented: “When the company reported late May,

The stock market marched to fresh highs with Nvidia, Taiwan Semiconductor and AI chipmakers leading and economic data solid. Online brokers also are hot.