Nvidia (NASDAQ:NVDA) stock never seems to go too long without experiencing a sustained rally higher. Undoubtedly, only time will tell if NVDA shares will retain the multi-bagger gains that investors have enjoyed in 2024.

Shares of Nvidia rallied to a record high on Thursday, making the chipmaker the first company in history to surpass a stock market value of $3.6 trillion as Wall Street extended a rally sparked by Donald Trump's return to the White House.

Nvidia stock rose after Donald Trump was declared the winner in the 2024 presidential election in the early hours of Wednesday. The stock was up 1.5% at $141.97 in premarket trading. Trump will become the 47th president,

Semiconductor maker Nvidia (NASDAQ:NVDA) is certainly having quite the day in the markets. Shares of the high-performance chip maker are up nearly 4% at the time of writing, with momentum building throughout the day,