Investors continue to underestimate artificial intelligence (AI), the secular tailwinds behind the chipmaker's supercharged growth.

Nvidia’s (NASDAQ:NVDA) ascent to a $4.3 trillion market capitalization has cemented its status as a titan in the tech world and the world’s most valuable company, driven by its unrivaled dominance in artificial intelligence (AI) chip production.

And with Microsoft shares up by 9% and Meta gaining 11% before the open, the S&P 500 would have a hard time being anything but up today. In fact, that index is gaining nearly 1% in premarket futures trading. The Nasdaq, of which both Microsoft and Meta are also members, is up more than 1%.