Plenty of tech stocks have seen their valuations skyrocket because of the AI boom, but the biggest beneficiary has undoubtedly been Nvidia ( NVDA 1.28%). Over the past three years, its stock has increased by nearly 920%, while the S&P 500 has risen around 64% over the same period.

Less than three months after the stock market plunged on President Donald Trump's "Liberation Day" tariffs announcement, major indexes are back near all-time highs. Investors have shrugged off concerns around tariffs and a potential economic slowdown as businesses adjusted to the new trade regime and as economic data so far around unemployment and inflation has been stable,