Nvidia ( NVDA 0.53%) is one of the hottest stocks on the market today. Over the past five years, Nvidia shares have soared in value by nearly 1,500%, including another 20% in the last 12 months. Think the run is over? Think again. Nvidia stock remains far cheaper than most investors realize due to one critical factor.

Nvidia briefly reached a market capitalization of $4 trillion on Wednesday, making it the first company in the world to reach the milestone and solidifying its position as one of Wall Street's most-favored stocks.

A combination of tight credit spreads, a low VIX, placid bond markets, and high valuations for riskier assets could be a sign investors are complacent.

Nvidia stock has regained its momentum in recent months and should be able to sustain it in the long run as well. Nvidia's market share and the potential data center revenue growth that it could clock should help double its market cap in the next three years.

The Dow Jones index dropped Friday on tariff news. Nvidia-backed CoreWeave sank, Levi was a big mover on the stock market today.

Nvidia shares were down 0.8% at $162.86 in premarket trading, in line with a slump in wider market futures. The stock rose 0.8% on Thursday and the company became the first to close above $4 trillion, cementing its position as the world’s most valuable by market capitalization.

Nvidia shares continued to rise after the artificial intelligence chipmaker broke the $4 trillion market cap level. U.S. equities were lower at midday after President Donald Trump made more tariff announcements. The Dow Jones Industrial Average, S&P 500, and Nasdaq all declined.

Nvidia's market cap just hit $4 trillion, and it could rise further on positive market sentiment. Nvidia stock offers exciting opportunities for long-term investors. Nvidia (NASDAQ: NVDA) is back as the most valuable company in the world,